Gold Falls Below $4,400 on Inflation, Rate-Hike Concerns

Gold prices slid below the $4,400 per ounce threshold on May 28, 2026, as stubborn inflation and hawkish Federal Reserve policy expectations weighed on the precious metal. The decline marks a retreat from recent peaks fueled by geopolitical uncertainty. Spot gold traded as low as $4,392.15, down 1.3% on the session, after failing to hold gains above $4,450 earlier in the week. U.S. gold futures for June delivery settled 1.1% lower at $4,398.70. The selloff intensified following comments from Fed officials signaling that interest rates could remain elevated longer than markets anticipated, with the central bank's preferred inflation gauge still running above target. Rising real yields diminish the appeal of non-yielding assets like gold, even as persistent economic risks have kept bullion near record levels. Analysts noted that a break below $4,400 could trigger additional technical selling, with the next support seen around $4,350.