Why Gold (GOLD) fell 2.34%
Gold (GOLD) fell 2.34% on November 13, 2026 — Stronger Fed hike bets lift dollar, sink gold.
What happened
Precious metals sold off as a group, with the peer median down 2.3%, and gold led the drop as the dollar kept rising on surging bets for Fed rate hikes.
Why it moved
Gold pays no yield, so higher real-rate expectations and a stronger dollar lower its relative appeal, and the sector sold off together on the same macro repricing.
Why it matters
Within the Precious Metals theme, gold's rally was built on safe-haven demand tied to Iran risk. With tensions easing, that bid is fading, while industrial demand is still supporting silver.
What would break the thesis
If Fed hike odds retreat or the dollar reverses, gold should rebound quickly. A renewed escalation in the Middle East could bring safe-haven buying back.