Gold Market
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.
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 fell more than 3% on Friday as Federal Reserve Chair Kevin Warsh’s remarks on inflation boosted expectations for a September interest rate increase. A stronger dollar added to the decline.
Gold prices dropped more than 2.5% on Friday after Federal Reserve Chair Kevin Warsh delivered hawkish remarks at Jackson Hole. A rising US dollar and higher Treasury yields pushed the yellow metal lower.
Gold traded little changed near $4,604 an ounce on Friday as investors looked ahead to Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium for clues on interest rate policy.
Gold has rallied 15% in August, supported by renewed ETF inflows, strong central bank buying, US rate expectations, Treasury buybacks and a weaker dollar.
Gold fell over 1% to $4,364 on Tuesday as US Treasury yields rose to their highest since 2007, pressuring the non-yielding metal. The dip came as energy prices gained on stalled US-Iran talks.
TD Securities sees gold range-bound between $4,200 and $4,500/oz into early 2027, with a sustained rally possible later that year as inflation eases.
MCX gold and silver prices declined in early trade on Tuesday as a surge in crude oil prices rekindled fears that the Federal Reserve and other central banks may raise interest rates.