US stocks resumed trading after Labor Day. GLD fell about 1.7% on September 8, measured from the September 4 regular-session close. It had already lost roughly 0.8% on September 4, then declined again in the first session after the holiday.
FRED’s ten-year real yield was 2.43% on both observation dates. The nominal ten-year yield rose from 4.78% to 4.80%. TLT was almost unchanged and SPY fell about 0.5%. Gold’s deeper decline came without a higher observed real yield; the record supplies little support for assigning all of it to rates or improving risk appetite.
Yahoo Finance’s DX-Y.NYB daily records fell from 99.16 on September 4 to 98.84 on September 8, a decrease of about 0.3%. The dollar index does not follow the NYSE holiday calendar. A September 7 record on the same basis was not obtained, and the daily cutoffs have not been aligned. These are index values for two dates, without a synchronized window for identifying the dollar’s contribution to the gold decline.
Historical backfill: compiled October 4, 2026, with observations limited to the date discussed and US stock and ETF prices through the September 8 New York close. Sources: Yahoo Finance historical prices for GLD, the dollar index, TLT and SPY, September 3, 4 and 8; FRED DFII10 and DGS10; NYSE holidays. GLD is an ETF proxy, not spot gold. Yield data use historical observation dates and are not represented as available intraday. Buyer identities have not been established. Dollar-index figures use Yahoo Finance DX-Y.NYB daily records; the provider’s daily cutoff has not been reconstructed, so they are not treated as synchronous with regular stock and ETF closes. Values from different providers have not been reconciled at a common cutoff. This article presents personal research and opinion for informational purposes only and does not constitute investment advice.