Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Hawkish remarks from Waller boost rate hike bets, putting pressure on gold prices

Hawkish remarks from Waller boost rate hike bets, putting pressure on gold prices

新浪财经新浪财经2026/08/31 03:50
Show original

Hawkish remarks from Waller boost rate hike bets, putting pressure on gold prices image 0

On August 28, East 8 Zone time, Federal Reserve Chairman Waller delivered a hawkish signal at the Jackson Hole Global Central Bank Annual Meeting, reiterating the fixed 2% PCE-based inflation target and emphasized that price stability is the current policy priority. The market reacted quickly: CME futures raised the September rate hike probability from 35% to 58%, the 2-year U.S. Treasury yield rose by over 10 basis points, the U.S. dollar strengthened, and gold plunged sharply. However, there was no panic selling, and long-term U.S. Treasury yields declined, reflecting the market's acceptance of exchanging short-term hawkish remarks for stable long-term inflation expectations.

Shenwan Hongyuan Futures pointed out that the rebound in rate hike expectations led to a significant plunge in precious metals. Waller gave hawkish remarks at the Jackson Hole Global Central Bank Annual Meeting, with both 2-year and 10-year U.S. Treasury yields rising and the U.S. dollar index climbing simultaneously. According to CME FedWatch, the probability of a September rate hike has risen back to nearly 60%, causing short-term rate hike expectations to suppress precious metals performance. Whether a rate hike in September will actually materialize depends on August inflation data. Previously, after the U.S. Treasury announced an expanded long-term bond buyback program, the market began to reprice U.S. Treasury credit risk, which in turn offered support to precious metals.

CITIC Securities stated that central bank gold purchases and reserve diversification form a solid bottom-line support. Meanwhile, the Federal Reserve’s “easy to ease, hard to tighten” policy tone—stemming from a long-term reliance on loose financial conditions due to technological competition—suggests the gold uptrend is not yet over. Going forward, watch out for three main signals: continued cooling in the labor market, controllable inflation, and the trend of North American ETF inflows returning.

Editor: Zhu Henan

News Image 0
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!