Gold Market
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.
Gold, silver, platinum and palladium each have distinct supply, demand and market characteristics that affect their behaviour as assets.
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 fell over 1.37% on Wednesday, slipping below $4,600, after US inflation data aligned with estimates and raised the likelihood of a Federal Reserve rate hike in December 2026.
Gold prices held steady as investors focused on upcoming US inflation data for clues on the Fed's interest rate path. Other precious metals edged higher amid global economic concerns.
Gold futures on the MCX slipped ₹120 to ₹1,63,109 per 10 grams on Tuesday as spot demand weakened. Global benchmarks also fell.