Gold opened at $4,340.30 per troy ounce on Tuesday, September 15, 2026, down 0.3% from Monday's close — its lowest open in two weeks. Rising Treasury yields ahead of the Fed's meeting, plus a jump in oil prices tied to Middle East supply disruption, are pressuring the metal.
Gold slides as Treasury yields hit highest level since 2007
Gold December futures (GC=F) opened at $4,340.30 per troy ounce on Tuesday, down 0.3% from Monday's close. The price then fell further, trading at $4,315.30 per troy ounce as of 6:54 a.m. ET. That marked gold's lowest opening level in two weeks, as 10-year Treasury yields reached their highest level since 2007 ahead of a Fed meeting that started today.
Recent attacks on a key oil pipeline in Saudi Arabia have escalated tension in the Middle East, and that has pushed oil prices back over $100 a barrel.
Rate-hike odds keep climbing
Rising yields and prices have pushed rate-hike expectations higher by the day. The CME Group's FedWatch tool now shows a 92.5% chance the Fed raises rates after tomorrow's two-day meeting, up from 86.5% yesterday and 69.4% on Friday.
Against last week, gold's opening price is down 1.2%, though it remains up 0.4% versus a month ago and up 19.2% versus a year ago.
Analysts flag price and speculation risk
Darrell Fletcher, managing director of commodities at Bannockburn Capital Markets, warned that buying gold near record highs carries risk. According to Fletcher: "Buying high to hope for short-term higher is a tough strategy". Still, Fletcher pointed to positive dynamics: gold is recovering from decades of low prices and remains an increasingly popular diversification asset for central banks and individual investors.
Thomas Winmill, portfolio manager at Midas Funds, encourages investors to treat positions in gold bullion, coins, and ETFs as speculative, since commodity prices depend on macroeconomic, political, industrial, and financial factors that are unpredictable and, in some cases, unknowable.
Source: Yahoo Finance
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