Gold was trading marginally lower on Tuesday, extending a recent downward trajectory that began on Friday as investors revised upward their expectations for an interest rate increase by the US Federal Reserve before the end of the year.
The yellow metal fell 0.26% to $4,428.73 per ounce in morning trade, having shed more than 3.5% over the two preceding sessions. Despite the pullback, gold closed August with a gain of nearly 10% — its strongest monthly advance since January — driven largely by an intervention by the United States Treasury in the debt market. The move caught investors off guard and reignited concerns about the health of the world’s largest economy.
The upward trajectory was interrupted, however, following remarks by Kevin Warsh at the Federal Reserve’s annual symposium. The central bank chair delivered a hawkish message to markets, stating that inflation shows no meaningful signs of cooling towards the 2% target and reaffirming that interest rates remain the ‘preferred tool’ for combating rising prices.
Adding to the pressure on gold, the conflict in the Middle East pushed oil prices higher. Although bullion is traditionally among investors’ preferred safe-haven assets during periods of geopolitical tension, persistent inflationary pressures have reduced appetite for the non-yielding commodity.
‘Gold’s recovery was premature given persistent inflation concerns,’ analysts at TD Securities wrote in a note seen by Bloomberg. ‘We expect some downside in prices, but do not anticipate another sharp decline towards the $4,000 per ounce level, as the renewed theme of dollar weakness provides strong support,’ they added.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/01/commodities-3/ouro-em-trajectoria-descendente-apos-perder-mais-de-35-em-duas-sessoes/
