Gold Tumbles on Rate Hike Fears as Traders Eye US-China Summit

Gold prices fell sharply on Wednesday, September 23, 2026, as investors weighed expectations of tighter monetary policy and monitored US-Iran developments ahead of a critical US-China summit. The summit, scheduled for Thursday, September 24, 2026, could produce new trade agreements amid escalating competition and restrictions on advanced technology exports. Rate hike concerns continued to pressure bullion, which offers no yield, as markets priced in the prospect of higher borrowing costs. Traders also watched geopolitical tensions between Washington and Tehran for potential safe-haven demand.