What happened: Gold futures (GC=F) fell on Monday, but still closed out their best month since February.
What's behind the move: The precious metal rose roughly 10% in August, despite a recent pullback after Federal Reserve Chairman Kevin Warsh signaled that interest rate increases could be necessary to bring inflation under control.
US strikes on Iranian rocket launchers in the Strait of Hormuz region also reignited inflation fears as oil prices jumped.
Gold futures for December delivery hovered near $4,481 per troy ounce on Monday, extending declines of more than 3% on Friday after Warsh's commentary at Jackson Hole sent the precious metal tumbling as investors reassessed expectations for interest rates.
Read more: Gold prices today: Monday, Aug. 31: Gold sinks following U.S. strikes on Iran
#metal #interest #inflation
What's behind the move: The precious metal rose roughly 10% in August, despite a recent pullback after Federal Reserve Chairman Kevin Warsh signaled that interest rate increases could be necessary to bring inflation under control.
US strikes on Iranian rocket launchers in the Strait of Hormuz region also reignited inflation fears as oil prices jumped.
Gold futures for December delivery hovered near $4,481 per troy ounce on Monday, extending declines of more than 3% on Friday after Warsh's commentary at Jackson Hole sent the precious metal tumbling as investors reassessed expectations for interest rates.
Read more: Gold prices today: Monday, Aug. 31: Gold sinks following U.S. strikes on Iran
#metal #interest #inflation
2 months ago
