Gold eases from 3-month high as investors await US inflation data
Published Wed, Aug 26, 2026 · 08:10 AM — Updated Wed, Aug 26, 2026 · 01:31 PM
GOLD eased on Wednesday (Aug 26) after scaling a more than three-month high in the previous session, as investors awaited a key US inflation report to gauge the US Federal Reserve’s interest-rate path.
Spot gold eased 0.3 per cent to US$4,642.74 per ounce, by 0410 GMT.
Prices climbed to their highest since mid-May on Tuesday after last week’s sharp gains following the US Treasury’s bond buyback announcement. US gold futures rose 0.1 per cent at US$4,700.70.
The US Fed’s preferred inflation gauge, the US Personal Consumption Expenditures (PCE) price index for July, is due at 1230 GMT. Attention is also on US Fed chairman Kevin Warsh’s speech on Friday at the central bank’s Jackson Hole symposium.
“For gold, the most supportive outcome would be softer-than-expected inflation combined with a dovish or balanced message from Warsh, reinforcing expectations for lower real yields and reducing the opportunity cost of holding a non-yielding asset,” said Wael Makarem, financial markets strategists lead at Exness.
“A renewed deterioration in confidence around US fiscal sustainability could also be important (for gold), particularly given the recent Treasury buyback plans and their impact.”
Earlier in August, data showed an unexpected decline in US non-farm payrolls and in-line consumer inflation, tempering expectations of a September rate hike.
Traders are pricing in a 61.6 per cent chance that the US Fed will leave rates unchanged in September, according to the CME FedWatch Tool.
On the geopolitical front, Iran said it had restarted talks with neighbour Oman to manage the Strait of Hormuz, sending oil prices lower.
The global economy has weathered the Iran war energy shock better than feared, International Monetary Fund managing director Kristalina Georgieva said. However, she raised concerns about deteriorating fiscal conditions in some countries.
Spot gold may retest a resistance at US$4,681, a break above which may trigger a gain into the range of US$4,707 to US$4,743, according to Reuters technical analyst Wang Tao.
Spot silver gained 0.9 per cent to US$69.26. Platinum rose 0.4 per cent to US$1,865.09 and palladium firmed 1.3 per cent to US$1,343.75. REUTERS
