Gold stayed under pressure on Monday even as odds of an October Fed rate hike collapsed to just above 20%, with 10-year Treasury yields pinned near their highest since 2002 and a 17-month-low euro lifting the dollar index to its strongest since April 2025. Spot gold fell 0.9% to $4,153 an ounce, and CFTC data showed money managers cutting their net bullish Comex positioning for a fifth straight week. Former World Gold Council Tokyo director Jeff Toshima still expects strong dip-buying from central banks and long-term investors toward $4,000.
Here are the numbers behind the slide — and the growing divergence between hedge funds and ETF buyers.
