Gold slides 2.3% as US-Iran strikes lift oil and bond yields
Gold (XAU/USD) dropped more than 2.3% on Tuesday as escalating US-Iran strikes pushed oil above $90 and the 10-year Treasury yield to 4.792%, swamping mixed US data.
Gold Market
Daily movements in the gold market and what is driving them.
Gold (XAU/USD) dropped more than 2.3% on Tuesday as escalating US-Iran strikes pushed oil above $90 and the 10-year Treasury yield to 4.792%, swamping mixed US data.
Gold and silver have rallied sharply, but renewed US rate hike fears after Fed Chief Kevin Warsh's Jackson Hole speech have clouded the near-term outlook. We compare the two metals.
Gold prices fell after Fed Chair Kevin Warsh's hawkish remarks at Jackson Hole. Analysts from Julius Baer and Monarch PMS outline 2026 scenarios for gold and silver, with rate hike expectations and geopolitical tensions in focus.
Gold dropped 0.5% on Monday as rising oil prices from Middle East tensions stoked inflation fears and bets on a September Federal Reserve rate hike, though Treasury buybacks offered some support.
Gold declined about 0.4% on Monday after Fed Chair Kevin Warsh signalled further tightening. A rise in oil prices and US Treasury yields added pressure, though the metal remains up over 9% for August.
After a strong rally in gold and silver, ICICI Direct's Pankaj Pandey advises investors to adopt a long-term perspective and not chase short-term gains.
HSBC has named Titan Company and Kalyan Jewellers as its preferred jewellery stocks, with Buy ratings and target prices of Rs 5,550 and Rs 770 respectively.
Gold and silver ETFs fell up to 4% on August 31 after hawkish Federal Reserve remarks pushed bond yields higher and strengthened rate-hike expectations, while US-Iran tensions fuelled inflation concerns.
Spot gold fell 0.7% to $44,423.84 per ounce, hitting its lowest in nearly two weeks after Federal Reserve Chair Kevin Warsh indicated that interest rate hikes may be needed to curb inflation.