Gold Holds Ground After 3% Drop on Warsh's Hawkish Stance

Gold today: Prices drop to near two-week low on Fed chief's hawkish stance

Gold prices hit a near two-week low amid Fed Chair's hawkish comments on potential interest rate hikes to combat inflation.

XAU/USD battles key support amid renewed Iran and Fed hike risks

Gold is extending Friday’s correction into early Monday, testing the lowest level in eight days near $4,400. Gold cracks on hawkish Fed, Iran risks Gold fades a temporary recovery seen in the last hours, as bears remain in control heading into the US Nonfarm Payrolls (NFP) week, despite a broad US Dollar (USD) pullback from two-week highs. The Greenback is pulling back on profit-taking after a steep rally on Friday. However, a deeper retracement…

Gold holds ground after 3% drop on Warsh's hawkish stance

On Monday, gold prices held steady following a noteworthy decline. Federal Reserve Chair Kevin Warsh suggested that interest rate hikes could be on the horizon, leading markets to predict an increased chance of a September rate rise. Labor market reports set to be released this week will offer additional economic clarity. Other precious metals also experienced slight fluctuations.

Gold Correction, Not Reversal? Why $4,300 Is the Line That Matters - ActionForex

Gold's fall from 4,697.07 to around 4,423 looks more like a correction than a reversal — Warsh repriced rate timing and trimmed some fiscal-credibility premium, but the longer-run Fed path and US fiscal arithmetic are unchanged, leaving the 4,320-4,338 support cluster as the level that would need to break to challenge that base case. The post Gold Correction, Not Reversal? Why $4,300 Is the Line That Matters appeared first on ActionForex.