The price of gold fell by about 0.2% the day after Powell's speech, and the Philadelphia Gold and Silver Index barely hit a new all-time closing high.

On Monday, during the final trading session in New York, spot gold fell by 0.19%, to $3365.59 per ounce. It fluctuated at a low level for most of the day, but rose when the US stock market opened, before giving back more than half of the gains at the close. COMEX gold futures fell by 0.25%, to $3409.90 per ounce. The Philadelphia Gold and Silver Index closed up by 0.07%, at 239.40 points, setting a new record high for the closing price, but with limited fluctuations throughout the day.