THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold slides after Powell doubles down on tight monetary policy

August 26, 2022By Reuters
Related Articles
Political jitters ripple ahead of central bank fest December 17, 2024 Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole August 21, 2023 Oil prices rise as China factory bounce boosts demand outlook March 1, 2023

Aug 26 (Reuters) – Gold fell over 1% on Friday after Federal Reserve Chair Jerome Powell in his speech at Jackson Hole said the US economy needed a tight monetary policy until inflation was under control.

Powell said this could mean slower growth, but did not hint at what the Fed might do at its September policy meeting.

Spot gold fell 1.2% to USD 1,738.14 per ounce by 1335 p.m. ET, en route to fall for a second straight week, down about 0.4% so far. US gold futures settled 1.2% lower at USD 1,749.8.

“Equities and metals are suffering from Powell’s unvarnished reminder that rates will need to be high for longer and that perhaps 75 bps is the default for September unless the totality of the data suggests otherwise,” said Tai Wong, a senior trader at Heraeus Precious Metals in New York.

Gold is considered a hedge against economic risks, but rising interest rates dent the appeal of the non-yielding asset.

Since there was no dovish pivot from Powell, gold will continue to face pressure as it will have to deal with higher interest rates, said Philip Streible, chief market strategist at Blue Line Futures in Chicago.

US two-year Treasury yields briefly popped to their highest since October 2007 before stabilizing near two-month highs, while the dollar rebounded from an initial dip.

Standard Chartered analyst Suki Cooper said in a note that while gold could trend lower in the coming months, most of the downside risk was already priced in.

Bullion could also benefit from “tailwinds including recession risk, a price-responsive physical market, already scaled-back positioning and elevated inflation,” Cooper added.

Physical gold premiums in China jumped this week to their highest since last October, while demand cooled in India.

Spot silver dropped 2.02 % to USD 18.89 per ounce.

Platinum fell 2.04% to USD 863.00, and palladium fell 1.3% to USD 2,119.23.

(Reporting by Ashitha Shivaprasad, additional reporting by Arpan Varghese and Rahul Paswan in Bengaluru; editing by Jonathan Oatis, Shailesh Kuber and Vinay Dwivedi)

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP