{
  "id": 4983943,
  "title": "Gold tumbles 2.5% to two-week low as global yields rise, US Fed rate-hike bets mount",
  "url": "https://urgent.news/2026/09/02/gold-tumbles-2-5-to-two-week-low-as-global-yields-rise-us-fed-rate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T01:24:34.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-tumbles-2-5-two-week-low-global-yields-rise-us-fed-rate-hike-bets-mount"
  },
  "original_language": "en",
  "account": "Gold prices plummeted 2.5% to a two-week low on Friday due to rising global bond yields and heightened expectations of US Federal Reserve interest rate hikes. The precious metal's decline, which has now lasted three days, could mark the longest losing streak since early July. The drop began on August 28 when Federal Reserve Chair Kevin Warsh emphasized his commitment to combating inflation. The slide intensified over the week of August 31 as tensions escalated in the Middle East, driving oil prices higher and intensifying concerns over persistent price pressures. Traders are increasingly betting on rate hikes, with almost a 70% probability that the US Fed will raise interest rates by a quarter-point at its September meeting. US Fed Governor Michael Barr warned that the central bank should be prepared to raise rates if inflation remains stubborn, noting that price pressures have been above target for over five years. Analyst Ryan McKay of TD Securities attributed the weakness in gold to the follow-through from Warsh's speech at Jackson Hole and Barr's comments on inflation, adding that the renewed sell-off in global bonds is further pressuring the precious metal. Spot gold fell 2.4% to $4,328.79 per ounce as of 2:43 PM New York time. Silver declined 3.5% to $64.24, while platinum and palladium also slipped. The Bloomberg Dollar Spot Index increased by 0.2%.",
  "summary": "Three-day decline is on pace for the longest losing streak since early July",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Gold slumps below $4,350 on higher US yields, hawkish Fed bets",
        "url": "https://urgent.news/2026/09/01/gold-slumps-below-4-350-on-higher-us-yields-hawkish-fed-bets",
        "published": "2026-09-01T23:28:14.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Ringgit opens lower amid higher oil prices, Fed rate hike bets",
        "url": "https://urgent.news/2026/09/02/ringgit-opens-lower-amid-higher-oil-prices-fed-rate-hike-bets",
        "published": "2026-09-02T00:38:00.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Ringgit opens lower vs greenback amid higher oil prices, Fed rate hike bets",
        "url": "https://urgent.news/2026/09/02/ringgit-opens-lower-vs-greenback-amid-higher-oil-prices-fed-rate-hike",
        "published": "2026-09-02T00:47:49.000Z"
      }
    ]
  },
  "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."
}