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Sep 15, 2026 阅读中文版

On the Fed's Eve, Gold Did Not Follow the Dollar

GLD rose about 0.3% on September 15 while Yahoo Finance’s dollar-index daily series gained about 0.2% and the historical ten-year real yield reached 2.62%. Modest resilience could not disclose the next day's policy result.

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fomc-evegold-resiliencereal-rate-hurdleevent-uncertainty
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GLDTLTSPY

GLD lost about 1.5% in the preceding session and gained only about 0.3% on September 15, recovering a small part of the decline. Yahoo Finance’s dollar-index daily record rose about 0.2% to 99.65. The cutoffs have not been reconciled, and this modest rebound does not establish that the dollar ceased to matter for gold.

FRED’s historical ten-year nominal yield was 5.00% and the real yield 2.62%, both above the prior observation. Long-duration Treasury ETF TLT fell about 0.3% and SPY 0.5%, while gold held up temporarily. Other demand can offset a higher real opportunity cost; these prices do not identify safety demand, longer-term allocation, or short-term fluctuation as the source.

The FOMC calendar scheduled the meeting for September 15–16. At the September 15 New York close, the next day’s statement was unpublished.


Historical backfill: compiled October 4, 2026, with observations limited to the date discussed and US stock and ETF prices through the September 15 New York close. Sources: Yahoo Finance historical prices for GLD, the dollar index, TLT and SPY, September 11, 14 and 15; FRED historical DGS10 and DFII10 observations; FOMC meeting calendar. GLD is an ETF proxy. Yield observation dates do not establish intraday availability. The September 16 decision is not used as September 15 information. 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.

This content represents independent research and personal opinion for informational purposes only. Nothing herein constitutes investment advice or a recommendation to buy or sell any security. Past performance is not indicative of future results.