Gold's Support Collapse Hands the Dollar New Control

Gold's price drop deepened after hotter U.S. inflation data lifted Federal Reserve rate hike expectations, bond yields and the dollar. Fiona Cincotta, StoneX Senior Market Analyst, explains what pushed gold to a five-week low and what markets are watching at this week's Federal Reserve meeting. Hotter than expected U.S. core PCE inflation sharply raised the probability of a 25-basis point Federal Reserve hike and lifted expectations for another move in December. Higher rate expectations lift bond yields and the U.S. dollar, raising the opportunity cost of holding the non-yielding metal. Disruption to Saudi Arabia's East-West Pipeline adds Middle East supply risk, yet the inflation expectations it feeds now work against gold. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_fiona_cincotta&utm_content=share 00:00 - Gold Breaks a Key Support 00:36 - Hot Inflation Resets the Fed 00:58 - Rate Odds Jump Into December 01:22 - Warsh Says Less, Dots Say More 01:53 - Pipeline Hit, No Haven Bid 02:28 - Bears Take the 200-Day Line Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social #Gold #StoneX #FionaCincotta #FederalReserve