Gold fell to $4,134.91 an ounce as elevated oil prices fueled inflation concerns, and Fed Chair Kevin Warsh favored holding rates steady at the upcoming meeting even as traders priced in a 90% chance of another rate hike by year-end.

Market impact

Which way this story pushes each asset. An inference from the story, not a measured move.

Gold
Pushes down
IntradayMedium confidence
Oil-driven inflation worries and hawkish rate-hike pricing pressure gold

What could change this

If Warsh's preference for holding rates prevails over trader pricing, USD/yield support could fade and gold's decline could stall.

3,996.90-0.67%vs previous close

-3.37%

since this story

Measured from the price when this story was posted to the latest stored price, so it can lag the live price.