{
  "id": 4585840,
  "title": "Gold hits near two-week low on Fed chief's hawkish stance",
  "url": "https://urgent.news/2026/08/31/gold-hits-near-two-week-low-on-fed-chiefs-hawkish-stance-4585840",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T05:43:10.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437198/gold-hits-near-two-week-low-on-fed-chiefs-hawkish-stance"
  },
  "original_language": "en",
  "account": "Gold prices plummeted to their lowest level in nearly two weeks on Monday, following US Federal Reserve Chair Kevin Warsh's hawkish stance, which suggested potential interest rate hikes to curb price pressures. The precious metal's value dropped 0.8% to $4,417.04 per ounce by 0406 GMT, reaching its weakest point since August 19. US gold futures also declined by 1.4% to $4,466.80.\n\nThe recent drop in gold prices can be attributed to rising inflation fears, which were exacerbated by escalating tensions in the Middle East. US military action in Iran has driven up oil prices, further compounding gold's woes in terms of inflation. Tim Waterer, chief market analyst at KCM Trade, explained that while gold is generally seen as a hedge against inflation, its appeal wanes during periods of rising interest rates since it does not yield any interest.\n\nFederal Reserve Chair Warsh reiterated on Friday at the Jackson Hole economic symposium that the central bank would need to show clear evidence that inflation is on track to decline to 2% before considering rate hikes. Currently, markets estimate a 60% probability of a Fed rate increase in September, according to the CME FedWatch tool.\n\nMeanwhile, escalating Middle East tensions have led to destructive attacks on oil infrastructure. US President Donald Trump announced on social media that forces had targeted two rocket launchers on Kharg Island, Iran's energy hub, in what appeared to be the first American strikes on the Islamic republic since late July. Oil prices surged by more than 2% as a result.\n\nOther precious metals also experienced declines. Spot silver fell 0.4% to $66.10, while platinum slipped 1.3% to $1,797.03, and palladium dropped 2.5% to $1,386.96. According to BMI, silver prices are likely to remain near the current level due to steady investment demand and limited mine supply, while easing physical tightness and reduced demand will likely prevent further price increases.",
  "summary": "Gold fell on Monday to its lowest in nearly two weeks after US Federal Reserve Chair Kevin Warsh signalled that interest rate hikes may be needed to ease price pressures, while escalating Middle East tensions fuelled inflation fears. Spot gold fell 0.8% to $4,417.04 per ounce by 0406 GMT, hitting its weakest level since August 19. Prices dropped more than 3% on Friday. US gold futures declined…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "(URGENT) Seoul shares open 2.58 pct lower on Fed chief's hawkish comments",
        "url": "https://urgent.news/2026/08/31/urgent-seoul-shares-open-2-58-pct-lower-on-fed-chiefs-hawkish-comments",
        "published": "2026-08-31T00:01:42.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Seoul shares open sharply lower on Fed chief's hawkish comments",
        "url": "https://urgent.news/2026/08/31/seoul-shares-open-sharply-lower-on-fed-chiefs-hawkish-comments",
        "published": "2026-08-31T00:27:02.000Z"
      },
      {
        "outlet": "The Mainichi",
        "title": "Dollar trades in 160 yen zone in Tokyo after Fed chief's hawkish speech",
        "url": "https://urgent.news/2026/08/31/dollar-trades-in-160-yen-zone-in-tokyo-after-fed-chiefs-hawkish-speech",
        "published": "2026-08-31T01:00:03.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Gold drifts lower below $4,450 as hawkish Warsh remarks lift Fed hike bets",
        "url": "https://urgent.news/2026/08/31/gold-drifts-lower-below-4-450-as-hawkish-warsh-remarks-lift-fed-hike",
        "published": "2026-08-31T01:45:46.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Gold today: Prices drop to near two-week low on Fed chief's hawkish stance",
        "url": "https://urgent.news/2026/08/31/gold-today-prices-drop-to-near-two-week-low-on-fed-chiefs-hawkish",
        "published": "2026-08-31T04:07:11.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Gold hits near two-week low on Fed chief's hawkish stance",
        "url": "https://urgent.news/2026/08/31/gold-hits-near-two-week-low-on-fed-chiefs-hawkish-stance",
        "published": "2026-08-31T05:03:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}