{
  "id": 10528631,
  "title": "Gold price crashes as 2007-era yields trigger brutal sell-off",
  "url": "https://urgent.news/2026/09/28/gold-price-crashes-as-2007-era-yields-trigger-brutal-sell-off",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T20:19:49.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-price-crashes-as-2007-era-yields-trigger-brutal-sell-off-202609282019"
  },
  "original_language": "en",
  "account": "Gold prices plummeted on Monday due to a surge in US Treasury yields and elevated oil prices, despite a slight retreat in the US Crude benchmark. The XAU/USD traded at $4,139 after peaking at $4,280. Inflationary pressure remained a concern, even as WTI crude fell to $93.00 per barrel. Mixed news about a potential US-Iran deal and officials denying those claims added to market volatility. Reports of Iran agreeing to halt uranium enrichment were later denied by Press TV, with Tehran remaining steadfast on its position. US President Donald Trump also rejected a deal with Iran, aiming to reopen the Strait of Hormuz. US Treasury yields hit their highest level since June 2007 at 5.27%, before slightly cooling to 5.23%. Federal Reserve speakers have become vocal about rising US inflation, increasing the likelihood of further interest rate hikes. Fed Governor Lisa Cook has expressed hawkishness, forecasting continued inflationary pressure due to AI advancements and Middle Eastern tensions. Money markets had anticipated a 65% chance of a 25-basis-point Fed rate hike at the October meeting, with a 94% probability of a rate hike by December, according to Prime Terminal. Traders now focus on job data, including the JOLTS, ADP Employment Change report, Core PCE Price Index, and September's Nonfarm Payrolls. Gold broke below the bottom trendline of a bullish wedge pattern, heading towards the August 3 daily low of $4,019. To continue the downtrend, XAU/USD must break above $4,100, followed by $4,050. A bullish reversal would require Gold to surpass $4,200, followed by the 100-day and 50-day Simple Moving Averages (SMAs) at $4,298 and $4,319, respectively. Gold has long been viewed as a store of value, medium of exchange, safe-haven asset, and hedge against inflation and currency depreciation. Central banks hold the largest gold reserves, often purchasing it to strengthen their economies and currencies. In 2022, central banks added 1,136 tonnes of gold, the highest yearly purchase since records began. Gold bears an inverse relationship with the US Dollar and US Treasuries, which are major safe-haven assets. When the Dollar depreciates, Gold tends to rise, providing diversification opportunities for investors and central banks. Gold also inversely correlates with risk assets, such as stocks, as a rally in the stock market typically weakens Gold price, while sell-offs in riskier markets favor the precious metal. Geopolitical instability or fears of a deep recession can quickly drive Gold prices higher due to its safe-haven status. A stronger US Dollar tends to control Gold's price, while a weaker Dollar often pushes Gold prices upward.",
  "summary": "Gold (XAU/USD) begins the week on the back foot, tanking over 3.4% on Monday as US Treasury yields soar and Oil prices remain elevated despite falling from daily highs amid mixed news headlines about a potential US-Iran deal. The XAU/USD trades at $4,139 after peaking at $4,280.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}