Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
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.
Gold prices fell ₹9,500 per 10 grams over four sessions and silver dropped ₹7,700 per kg after Fed Chair Kevin Warsh's comments raised expectations of higher US interest rates.
Gold steadied near $4,450 an ounce on Monday after suffering its steepest loss in over two months, as Fed Chair Kevin Warsh's commitment to fighting inflation drove bets on a September rate rise.
Gold snapped a five-week winning streak, falling 3.4% as Fed comments on inflation and possible tightening spooked markets. Despite the drop, gold remains up 30% year-over-year.
September is set to bring fresh volatility for gold, with US jobs reports and geopolitical tensions taking centre stage after a notable price decline.
A study by Taurex shows traditional assets including gold, Google and BAE Systems have delivered strong gains since end-2020, outperforming volatile crypto markets.
Gold, silver, platinum and palladium each have distinct supply, demand and market characteristics that affect their behaviour as assets.
Sovereign gold reserves are held by central banks for financial stability; the United States, Germany, and the IMF lead in holdings.