Gold's Debasement Rally Collides With a Hawkish Fed: Inside August 2026's Market Whipsaw

August 2026 was a month of two markets: a revived "debasement trade" sent gold and silver soaring for three weeks, until Fed Chair Kevin Warsh's hawkish Jackson Hole turn and a Strait of Hormuz oil shock reversed course and dragged Nifty and Sensex to their first monthly loss in three months.

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