Spot gold falls to $4,464.15 as precious-metals selling intensifies

  • Spot international gold fell about 3% to $4,464.15 per ounce on Aug. 28, while spot silver dropped to $67.09.
  • Gold’s newer reported price revises an earlier figure of $4,508.99, with both metals down about 3% during the session.
  • Dollar strength, rate expectations and broader precious-metals selling pressured gold, while central-bank demand remained a structural support.

Spot international gold fell about 3% from the previous session to $4,464.15 per ounce on Aug. 28, according to the newer report, revising the earlier cited price of $4,508.99 and nearly 2% decline. Spot silver also fell about 3% to $67.09, signaling broader selling across precious metals. Gold has retreated from levels above $5,000 and traded between roughly $4,500 and $4,600 in recent weeks, but still retained a year-over-year gain of about 33% to 36%. A stronger US dollar, resilient labor data and energy-driven inflation have supported expectations for higher real interest rates and weighed on dollar-priced bullion. Central-bank purchases and reserve diversification away from dollar-denominated assets remain structural supports, while traders monitor the $4,500 level and Federal Reserve signals on rate cuts or holds.

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