Gold drops before Fed Chair speech

Global gold prices fell today, Friday, August 28, 2026, ahead of remarks by U.S. Federal Reserve Chair Kevin Warsh, which are expected to be delivered later during a seminar and closely monitored by the markets. The spot price of gold declined by 0.5% to reach $4,576.30 per ounce, after hitting its highest level in more than three months earlier this week. Meanwhile, gold futures contracts dropped by 0.8% to $4,629. This comes following the U.S. Treasury Department's announcement of measures to support long-term bonds, amid concerns among Federal Reserve officials about the trajectory of inflation, which reached 3.7% over the twelve months ending in July. There are also expectations that U.S. interest rates may increase by a potential range between 33.9% and 74% in the coming months. Other precious metals also declined: silver fell by 1% to $68.54, palladium by 0.8% to $1,339.84, and platinum by 0.6% to $1,834.83, amidst ongoing tensions regarding inflation and rising interest rates.

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