Gold Prices Fall to Nearly Two-Week Low as Fed Rate Hike Signals Weigh

By News Desk on August 31, 2026

Gold Falls to Nearly Two-Week Low Amid US Rate Hike Signals

Singapore: Gold prices extended their decline today, reaching their lowest level in nearly two weeks after US Federal Reserve Chair Kevin Warsh indicated that further interest rate hikes may be necessary to contain inflation.

Spot gold fell 0.8 percent to $4,417.04 per ounce, its lowest level since August 19, following a decline of more than 3 percent on Friday.

US gold futures for December delivery also declined, falling 1.4 percent to $4,466.80 per ounce.

Other precious metals also recorded declines. Spot silver fell 0.4 percent to $66.10 per ounce, while platinum declined 1.3 percent to $1,797.03 and palladium dropped 2.5 percent to $1,386.96.

The decline in gold comes as markets assess the outlook for US monetary policy and the potential impact of higher interest rates on demand for non-yielding assets.

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