Gold Retreats from Three-Month High

2026-08-25 14:23 By Joana Ferreira 1 min. read

Gold prices fell to around $4,620 an ounce on Tuesday after reaching a more than three-month high of $4,696.2 earlier in the session, as the rally lost momentum ahead of US inflation data and Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium later this week.

Investors are also assessing the US Treasury’s decision to double liquidity-support buyback operations for longer-dated notes and bonds, which helped push the dollar to a more than three-month low last week.

Markets are currently pricing in a 38% chance of a US rate hike in September, according to the CME FedWatch Tool.

Meanwhile, China’s net gold imports via Hong Kong rose around 11% month-over-month in July, supported by stronger investment demand.

On the geopolitical front, Iran pledged to resist expanded US sanctions, expressing confidence that major trading partners would reject the pressure campaign while signaling that Washington remained interested in reviving talks.



News Stream
Gold Retreats from Three-Month High
Gold prices fell to around $4,620 an ounce on Tuesday after reaching a more than three-month high of $4,696.2 earlier in the session, as the rally lost momentum ahead of US inflation data and Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium later this week. Investors are also assessing the US Treasury’s decision to double liquidity-support buyback operations for longer-dated notes and bonds, which helped push the dollar to a more than three-month low last week. Markets are currently pricing in a 38% chance of a US rate hike in September, according to the CME FedWatch Tool. Meanwhile, China’s net gold imports via Hong Kong rose around 11% month-over-month in July, supported by stronger investment demand. On the geopolitical front, Iran pledged to resist expanded US sanctions, expressing confidence that major trading partners would reject the pressure campaign while signaling that Washington remained interested in reviving talks.
2026-08-25
Gold Holds Near 3-Month Highs
Gold traded around $4,650 an ounce on Tuesday, staying close to its highest levels in more than three months as US government interventions in the bond market revived the so-called debasement trade that fueled gold’s 65% rally in 2025. The US Treasury Department announced an expansion of its buyback program for long-dated government debt last week in an effort to contain rising borrowing costs, with Secretary Scott Bessent saying he is prepared to increase the buybacks further while also flagging an upcoming longer-term fiscal plan. However, markets speculated that the measures may offer only a temporary solution, while renewing concerns over the risks of a US debt crisis, persistent inflation and dollar weakness. Gold-backed exchange-traded funds have also recorded increased inflows in recent weeks, signaling broader market participation and strengthening investment demand.
2026-08-25
Gold Holds Near Three-Month High as Dollar Remains Under Pressure
Gold pared earlier gains on Monday afternoon but remained around $4,640 an ounce, its highest level since May 14, as technical buying supported a rally fueled by a weaker dollar and the US Treasury’s recent buyback announcement. Bullion gained more than 5% last week after the buyback plan pushed the dollar to multi-month lows. Markets are now focused on the July PCE price index due Wednesday and Fed Chair Kevin Warsh’s speech at the Jackson Hole Symposium on Friday for clues on the interest-rate outlook. Traders are pricing in a more than 40% chance of a rate hike in September, according to CME FedWatch. On the geopolitical front, the Trump administration announced an expansion of secondary sanctions targeting entities and countries that maintain business ties with Iran. Treasury Secretary Scott Bessent warned that at least one major financial institution could be sanctioned this week and suggested China would not be exempt.
2026-08-24