Bearish
Gold drops to $4,461 after BLS payrolls revision and hawkish Fed comments.
In the past 24 hours, gold prices declined to $4,461 following a downward revision of U.S. payrolls data and hawkish remarks from Federal Reserve Chair Kevin Warsh. The BLS revision indicated 79,000 fewer jobs added over the past year, reducing expectations for near-term rate cuts. Warsh's comments emphasized inflation as the primary risk, suggesting a potential rate hike in September.
Key points
- Gold fell approximately 3% to $4,461 after the BLS payrolls revision and Warsh's hawkish tone.
- Warsh's Jackson Hole speech revived market expectations for a September rate hike.
- Despite the decline, Wall Street remains optimistic about gold's long-term prospects.
Sources
- Gold Craters to $4,461 After BLS Payrolls Revision + Hawkish Warsh: XAU/USD Leverage PlaybookCoinUnited.io · August 29, 2026
- Gold Plunges Below $4,500 as Hawkish Fed Bets Clash with $40 Trillion DebtTradeVisor · August 29, 2026
- Wall Street holds out hope for gold despite fall to $4,445/oz, Main Street pares bullish majority with payrolls now in focusKitco News · August 28, 2026
AI-generated from public news sources. Not financial advice.
