Gold and commodity markets react to Fed policy shifts

gold prices Federal Reserve interest rate hike commodity markets inflation

Global commodity markets are experiencing significant volatility, primarily driven by shifts in Federal Reserve monetary policy expectations. Following hawkish remarks from Fed Chair Kevin Warsh at the Jackson Hole symposium, markets have increased their pricing for a potential interest rate hike in September, with probabilities rising to approximately 57-60%.

This shift has exerted downward pressure on gold prices globally. In Vietnam, SJC gold bars and 9999 gold rings saw notable price corrections, with SJC trading around 145.7 to 148.7 million VND per tael. In Iran, the domestic gold market faced conflicting signals as falling global gold ounces clashed with a rising US dollar, which fluctuated around 203,000 to 208,000 Tomans.

Other commodities are also reacting to geopolitical and economic shifts. Oil prices have risen above $90 per barrel amid heightened tensions in the Middle East, specifically involving military actions near the Strait of Hormuz. Meanwhile, copper prices in Shanghai declined due to the Fed's stance, though losses were partially mitigated by a 19% drop in copper stocks. Zinc prices, however, rose by 5.87% in August due to supply tightness.

Entities

Federal Reserve · Gold · Goldman Sachs · Iran · Jackson Hole · Kevin Warsh · MCX · Middle East · SJC · Shanghai Futures Exchange · Strait of Hormuz · United States

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The State Bank of Vietnam announced a central exchange rate for the USD at 25,610 VND.
[○ 1 SOURCE] Brent crude oil closed at 89.31 USD per barrel on August 29, 2026.
[● 14 SOURCES] Global gold prices fell to 4,455 USD per ounce on August 29, 2026. cafebiz.vn · baogialai.com.vn · baolaocai.vn · baotintuc.vn · nhandan.vn · +6 more
[○ 1 SOURCE] WTI crude oil closed at 83.4 USD per barrel on August 29, 2026.
[● 13 SOURCES] Fed Chair Kevin Warsh emphasized inflation control during a speech at Jackson Hole. cafebiz.vn · mekongasean.vn · baotintuc.vn · thoibaonganhang.vn · www.vietnamplus.vn · +4 more
[● 7 SOURCES] Market expectations for a Fed interest rate hike in September rose from 35.9% to 57.5%. cafebiz.vn · thoibaonganhang.vn · anlatilaninotesi.com.tr · www.sozcu.com.tr
[DISPUTED] SJC gold bar prices in Vietnam dropped to 145.7 million VND for buying and 148.7 million VND for selling on August 29. baogialai.com.vn · baolaocai.vn · baotintuc.vn · nhandan.vn · thuonggiaonline.vn · +4 more
[● 2 SOURCES] Stronger than expected economic data and US PCE inflation figures contributed to the decline in precious metals. www.bhaskarhindi.com
[● 2 SOURCES] The Indian Bullion and Jewellers Association reported 999 purity gold at 1,59,578 rupees per 10 grams on Friday. www.bhaskarhindi.com
[○ 1 SOURCE] In the international market, gold prices dropped 3.43 percent to 4,504.10 dollars per ounce.
[● 3 SOURCES] Silver prices for September delivery on the MCX fell by approximately 4,000 rupees (1.66%) to 2,36,651 rupees per kg. www.bhaskarhindi.com · samacharnama.com
[● 3 SOURCES] On the MCX, gold prices for October delivery fell by 2,596 rupees (1.63%) to 156,400 rupees per 10 grams. www.bhaskarhindi.com · samacharnama.com