Gold slips to $4,417 as Fed chair Warsh signals rate hikes may be needed
Spot gold fell 0.8% to $4,417.04 an ounce on August 31, 2026, its lowest in nearly two weeks, according to Reuters. Fed Chair Kevin Warsh said the Fed would have work to do if inflation was not falling toward 2%, which markets read as a case for possible hikes. For gold, a firmer rate path keeps the opportunity cost of holding a non-yielding asset high.
- Spot gold down 0.8% to $4,417.04
- Lowest in nearly two weeks
- Warsh: Fed would have work to do if inflation stays high
XAU around the story · hourly24 h reaction ▼ 1.82%
Moves this explains
XAU−2.83%Aug 31 · Gold fell 2.83% after Fed Chair Kevin Warsh signaled that rate hikes may be needed, pushing gold to $4,417. Hawkish Fed signals raise real yields and the dollar, which weighs on gold.HG−2.33%Aug 31 · Copper fell 2.33% as the metals complex weakened: silver -3.69%, gold -2.83% and Oracle -5.39%, while crude oil rose 5.00% and Brent 4.72%. The metals move follows Fed Chair Warsh's hawkish signal from August 31, although no copper-specific report confirms it as the cause.Source
New Straits TimesAug 31, 2026