Gold steadies after sharp selloff as Warsh revives Fed hike bets
Gold prices have steadied after a sharp decline triggered by a hawkish speech from Warsh at Jackson Hole. The market selloff drove prices down to $4,445/oz, reviving expectations that the Federal Reserve may implement a rate hike in September. While Wall Street maintains a hopeful outlook for the metal, retail investors have reduced their bullish majority as the market shifts its focus toward upcoming payroll data.
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- ✓ Gold prices steadied after a sharp selloff.
- ✓ A speech by Warsh at Jackson Hole led to a decline in gold prices and renewed bets on Federal Reserve rate hikes.
What changed
A hawkish Jackson Hole speech by Warsh triggered a sharp gold selloff to $4,445/oz.
Live updates
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Gold Prices Stabilize Following Selloff Over Fed Rate Hike Bets
Gold prices have steadied after a sharp decline triggered by a hawkish speech from Warsh at Jackson Hole. The market selloff drove prices down to $4,445/oz, reviving expectations that the Federal Reserve may implement a rate hike in September. While Wall Street maintains a hopeful outlook for the metal, retail investors have reduced their bullish majority as the market shifts its focus toward upcoming payroll data.
Why it matters
Higher interest rates typically increase the opportunity cost of holding non-yielding assets like gold. The shift in sentiment follows a specific policy signal from the Jackson Hole symposium. Investors are now weighing this hawkish stance against labor market indicators.
What is confirmed
- Gold prices steadied after a sharp selloff.
- A speech by Warsh at Jackson Hole led to a decline in gold prices and renewed bets on Federal Reserve rate hikes.
Still unconfirmed
- Gold prices fell to $4,445/oz.
- The Federal Reserve may implement a rate hike in September.
What to watch next
- Upcoming payroll data reports
- Federal Reserve policy decisions for September
confidence 85%Sources used for this update (6)
- Fortune — Current price of gold: Aug. 28, 2026
- Robin J Brooks | Substack — Will a September Hike Hurt Gold?
- Bloomberg.com — Gold Steadies After Tumbling as Warsh Spurs Fed Rate-Hike Bets
- Yahoo Finance — Warsh's Hawkish Jackson Hole Speech Sends Gold Sharply Lower
- KITCO — Wall Street holds out hope for gold despite fall to $4,445/oz, Main Street pares bullish majority with payrolls now in focus
- Investing.com — Gold steadies after sharp selloff as Warsh revives Fed hike bets
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