Gold drops to nearly two-week low as hawkish Fed bets rise amid oil-driven inflation fears
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
TL;DR: Gold's fall from 4,697.07 to around 4,423 looks more like a correction than a reversal — Warsh repriced rate timing and trimmed some fiscal-credibility premium, but the longer-run Fed path and US fiscal arithmetic are unchanged, leaving the 4,320-4,338 support cluster as the level that would need to break to challenge that base case.
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The price of Gold's 3% Warsh-driven selloff has put Crédit Agricole's $5,000 year-end forecast to a tougher test, but the bank's debasement thesis remains intact. The Gold price in US Dollars (XAU/USD) ended Friday around $4,457 after Fed Chair Kevin Warsh's Jackson Hole speech triggered the sharpest setback of the recent.
Gold price loses its 200-day average and tests key support, with the 20-day MA near $4,410 pivotal to keeping the $4,780 recovery target alive.
United States CFTC Gold NC Net Positions up to $243.3K from previous $222.2K
Metals and miners bottomed mid-year right on schedule, and this is just a brief 1 to 2-week pullback in a growing uptrend.