Gold slipped to $4,155 an ounce on Monday, Sept. 28, a level quoted in Yahoo Finance’s market recap, as Treasury yields climbed and traders bet on another Federal Reserve rate increase. Spot quotes that morning ran in a tight band around it, and the price of December futures was quoted higher. The gold price depends on which benchmark is read, so the scope of each figure matters.
Spot near $4,150 and futures near $4,189 on the same morning
Yahoo Finance’s market recap for Monday listed gold at $4,155.40. A separate spot quote from CNBC Select was $4,153.57 an ounce at 9 a.m. ET, compared with $4,297.51 at the same hour on Friday, a drop of about 3.4%. The USAGOLD daily report had spot at $4,148.69, down $136.59 or 3.19%, a seven-week low that was the lowest since Aug. 5, and cited Reuters for a spot quote of $4,156.45 at 0814 GMT.
The slide began before the U.S. session opened. Kitco’s spot-price page showed gold at $4,195.20 at 11:27 p.m. Eastern on Sunday, Sept. 27, down $89.00 or 2.08%, so Monday’s decline extended a drop that was already under way. Measured against the CNBC Select quotes, the fall from Friday’s 9 a.m. level to Monday’s came to $143.94 an ounce.
Futures traded on a different level. Yahoo Finance’s gold price report put December gold futures at $4,188.90 at 6:57 a.m. ET, down 1.1% from Friday’s close. The same report showed December futures down 3.1% from a week earlier and 8.2% from a month earlier, though still up 13.1% from a year earlier. Futures and spot are different quotes for the same metal, and the gap between them is one reason a single “price of gold” varies by a few dollars or a few tens of dollars depending on the source and the minute.
Treasury yields gave gold a rising alternative
The Treasury Department’s daily yield curve shows the 10-year at 5.24% on Monday, up from 5.17% on Friday, and the 2-year at 4.92%, up from 4.81%. Longer maturities rose too: the table lists the 20-year at 5.60%, up from 5.54%, and the 30-year at 5.56%, up from 5.49%, so the increase ran across the whole curve rather than in one maturity. Gold pays no interest, so higher yields raise what an investor gives up by holding it. USAGOLD’s report said the selloff was driven by “dollar, real yields, and rate-hike odds” rather than by physical demand.
Silver fell harder than gold
The same USAGOLD report had silver spot at $61.53 an ounce, down $2.77 or 4.31%, and said the gold-to-silver ratio widened to 67.4. A widening ratio means silver lost ground against gold on the day, so the selloff hit the cheaper metal harder in percentage terms. The report described the move as “a purely macro, paper-market repricing” with “not a single line concerns physical demand.”
Rate-hike odds moved with the oil price
USAGOLD reported that the CME FedWatch tool put the probability of a Fed increase at the October meeting at 70.3%, up from 64.2% the previous day. The Federal Reserve’s open market operations page lists a 25 basis point increase on Sept. 17, leaving the federal funds target range at 3.75% to 4.00%. Yahoo Finance’s bond market report said a majority of voting Fed members expected at least another quarter-point increase, and quoted Fed Chair Kevin Warsh: “Inflation is the problem.”
A PCE price-change report and the September jobs report were due later in the week, according to the same Yahoo Finance bond report, giving traders two more inflation and labor readings that could shift the odds.
The oil link was geopolitical. Yahoo Finance’s gold report said President Trump rejected Iran’s seven-day plan to reopen the Strait of Hormuz, and it listed rising oil prices and a stronger dollar among the pressures on gold, alongside rising bond yields.
A Tuesday quote shows how quickly the level moves
The level did not hold still. Trading Economics showed gold at $4,141.70 on Sept. 29, up $26.72 or 0.65% on the day, and reported that gold fell to $4,150 on Monday, the lowest since Aug. 5. Readers comparing figures across sites should check the timestamp and whether the quote is spot or futures before treating two numbers as a disagreement.
How gains on gold coins are taxed
Investors who hold physical coins and sell after a run-up face a specific rule. The IRS Topic 409 says net capital gains from selling collectibles, such as coins or art, are taxed at a maximum 28% rate. To qualify for long-term treatment the asset must be held for more than one year, and the transaction is reported on Form 8949 and Schedule D of Form 1040. Most long-term gains are taxed at 0%, 15% or 20%, so the collectibles ceiling sits above the rates that apply to most other long-term gains.
The senior deduction and the IRMAA appeal route for retirees
Retirees who collect Social Security and also draw on savings can owe tax on part of their benefits, and a higher reported income can raise Medicare premiums through IRMAA surcharges.
The Retirement Tax & Withdrawal Planner includes the senior deduction and the IRMAA appeal route (SSA-44), alongside calculators for provisional income and IRMAA tier.
See how income is tested in The Retirement Tax & Withdrawal Planner.
This article was produced with AI assistance and checked against the primary sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
