{
  "id": 4691627,
  "title": "Gold slips as Warsh Fed hike bets, Oil rally lift US yields",
  "url": "https://urgent.news/2026/08/31/gold-slips-as-warsh-fed-hike-bets-oil-rally-lift-us-yields",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T18:36:48.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-slips-as-warsh-fed-hike-bets-oil-rally-lift-us-yields-202608311836"
  },
  "original_language": "en",
  "account": "Gold prices fell 0.40% on Monday following Federal Reserve Chair Kevin Warsh's hawkish comments, which indicated a potential rate hike at the upcoming September meeting. The precious metal was trading at $4,432, after reaching a daily high of $4,472. Warsh stated that the Fed is determined to address high inflation, even if it does not aim for the 2% target. He acknowledged there is \"work to do\" if prices remain elevated.\n\nMonday's focus was on the Middle East conflict, as the US and Iran exchanged strikes, causing energy prices to rise. West Texas Intermediate (WTI), the U.S. crude oil benchmark, increased by 2.50% to $85.62. This rise in energy prices could lead to higher interest rates, which is not favorable for gold.\n\nThe U.S. 10-year Treasury yield rose by 2.5 basis points to 4.706%. The U.S. Dollar Index (DXY), which measures the dollar's performance against six currencies, declined 0.25% to 99.42. The DXY is below last week's high of 99.72.\n\nMoney markets now anticipate at least 26 basis points of tightening by the end of the year, with a 64% probability of a rate hike at the September 16 meeting and a 36% chance of maintaining the Fed funds rate at 3.50%-3.75%.\n\nGold has been fluctuating between the 100- and 200-day Simple Moving Averages (SMAs) around $4,370 and $4,528. The Relative Strength Index (RSI) suggests that buyers are in control, but the price action indicates that gold may be trading sideways. For a bullish recovery, gold must reach $4,500 and then the 200-day SMA. The next resistance level is the August 25 high of $4,697, followed by $4,700. If the price drops below $4,400, it could open the way to $4,300 and the 50-day SMA at $4,211.\n\nGold has historically been used as a store of value and medium of exchange. Currently, it is viewed as a safe-haven asset during turbulent times, as it serves as a hedge against inflation and currency depreciation. Central banks hold the largest portion of gold, often purchasing it to strengthen their economies and currencies. In 2022, central banks added 1,136 tonnes of gold worth around $70 billion to their reserves, the highest yearly purchase since records began.\n\nGold has an inverse relationship with the U.S. dollar and U.S. Treasuries, both of which are major reserve and safe-haven assets. When the dollar depreciates, gold typically rises, enabling investors and central banks to diversify their assets in uncertain times. Gold is also inversely correlated with risk assets. A stock market rally tends to weaken gold prices, while sell-offs in riskier markets favor gold. The price of gold is influenced by various factors, including geopolitical instability, recession fears, and the U.S. dollar's performance.",
  "summary": "Gold (XAU/USD) price retreats some 0.40% on Monday after last Friday's hawkish remarks by Federal Reserve (Fed) Chair Kevin Warsh, which sparked speculation of a possible rate hike at the September meeting.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Wall St slips as higher oil prices, hawkish Fed bets weigh",
        "url": "https://urgent.news/2026/08/31/wall-st-slips-as-higher-oil-prices-hawkish-fed-bets-weigh",
        "published": "2026-08-31T14:41:51.000Z"
      },
      {
        "outlet": "Mining.com",
        "title": "Gold price slips as Mideast tensions stoke Fed hike bets",
        "url": "https://urgent.news/2026/08/31/gold-price-slips-as-mideast-tensions-stoke-fed-hike-bets",
        "published": "2026-08-31T16:51:00.000Z"
      }
    ]
  },
  "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."
}