Forex

Gold Prices Plummet Amid Fed Rate Hike Expectations and Oil Price Surge

Guavy AI Editorial Team Published August 31, 2026

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USD

Gold prices fell on Monday, hovering near a two-week low, as investors assessed growing expectations of a Federal Reserve rate hike following hawkish comments from Chairman Kevin Warsh.

The decline in gold was fueled by concerns over inflation, which were exacerbated by a surge in oil prices.

Sport gold prices dropped 0.5% to $4,431.39 an ounce, having touched its lowest level since mid-August earlier this month.

The Wire

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