Gold Price Tumbles Amid Hawkish Fed Comments, Bitcoin Faces New Pressure

The gold price plummeted by over 8.5% from its peak of $4,700 in August after Treasury liquidity support initially pushed long-term yields lower and lifted risk assets.

This surge was short-lived as Kevin Warsh's hawkish Jackson Hole remarks reversed part of the move, with bond yields recovering and markets pricing tighter policy.

Bitcoin remained near $77,000 but faces new pressure from ETF flows, which have recently recorded more withdrawals than inflows.