New York gold prices fell on the 31st
Source: Xinhua Finance
Xinhua Finance, New York, August 31 (Reporter Xu Jing) — On the 31st, the most actively traded December 2026 gold futures price on the New York Mercantile Exchange fell by $32.6, closing at $4,497.3 per ounce, a decrease of 0.72%.
Federal Reserve Chairman Kevin Walsh made hawkish comments at the Jackson Hole meeting on the 28th, sparking market speculation about a rate hike at the Fed’s September meeting. Walsh stated that the Federal Reserve is committed to addressing high inflation, and if prices continue to remain elevated, the Fed "still has a lot of work to do."
The Middle East conflict is also a major factor affecting gold prices. Renewed clashes between the US and Iran have pushed up energy prices. Rising oil prices have triggered concerns about inflation, which is negative for gold.
On the same day, the US 10-year Treasury yield rose, and the US dollar index fell 0.28% to 99.428.
Analysts believe that due to the US Treasury's intervention in the long-term bond market, the recent financial environment has eased somewhat, which has supported gold prices. However, Walsh’s hawkish remarks have had a short-term negative impact on gold, and gold prices may give back some of their recent gains.
On the same day, the December silver futures price fell by 58.1 cents, closing at $67.205 per ounce, a decrease of 0.86%.
Editor: Zhu Henan
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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