Gold dips to $4,039 as Fed Chair Warsh warns conditions not tight
Gold slipped 0. 21% to around $4,039 on October 28 after Fed Chair Kevin Warsh said the Federal Reserve could not yet label financial conditions as tight, and the central bank left its policy rate unchanged. The decline came after a week of swings around the $4,000 mark.
On October 25, gold fell below $4,000 as rising Brent crude and expectations of further Fed tightening pressured the market. Prices later rose modestly when oil eased, briefly pushing spot gold above $4,000, before falling again amid higher oil and mixed rate outlooks. Analysts had warned that a break below $3,886 could trigger a sharper correction.