Gold bias held neutral on August 29, 2026
Gold prices dropped as Kevin Warsh warned the Fed still has work to do on inflation and cited the AI boom as justification for further tightening, which pressured the precious metal. Though gold had seen a strong August and silver briefly led gains ahead of Warsh, his hawkish remarks reversed the upside momentum, with gold and silver sinking accordingly. The broader commodity rally remains in focus, but near-term sentiment for bullion is driven by expectations of continued monetary policy restraint.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It held all day.
The day on the wire
00:0006:0012:0018:0024:00
The band shows the reading through the day; a mark shows where it changed. Each tick is a headline first seen that day.
The reading through the day
- 00:00Neutral
Headlines (11)
Carried over from earlier days
- Gold recovers $4,600, buyers unwilling to give upFXStreet
- Investors just moved $7 billion into Bitcoin and gold in five days to escape an accelerating dollar crisisCryptoSlate
- Gold miners steal the spotlight from chip stocksminingmx.com
- Australian gold producer Westgold posts record underlying net profit of $480mMining Weekly
- Commodity weekly: From barrels to bushels and bullion as scarcity broadens the commodity rallyhome.saxo
- Silver Leads Precious Metals Higher Ahead of Warsh as GoldActionForex
- First Mining Gold inks First Nations agreementnorthernminer.com
- Gold and Silver Sink as Warsh Cites AI Boom to Justify More Fed TighteningGoldSilver
- Gold price drops as Warsh warns Fed still has ‘work to do’ on inflationMining.com
- investingLive Americas FX news wrap 28 AugInvestingLive
- Gold’s huge AugustMining.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Tuesday, September 1 | ||
| Retail Sales y/y | 1.3% | CHF |
| Manufacturing PMI | 54.1 | CHF |
| FOMC Member Barr Speaks | USD | |
| Final Manufacturing PMI | 53.3 | USD |
| ISM Manufacturing Prices | 71.2 | USD |
| Construction Spending m/m | 0.0% | USD |
| JOLTS Job Openings | 7.33M | USD |
| ISM Manufacturing PMI | 55.2 | USD |