Gold Market
Gold prices dropped to a two-week low on Wednesday, pressured by rising Treasury yields and a strengthening dollar. Market attention now turns to upcoming US jobs data for signals on interest rates.
Gold (XAU/USD) dropped more than 2.3% on Tuesday as escalating US-Iran strikes pushed oil above $90 and the 10-year Treasury yield to 4.792%, swamping mixed US data.
Gold has rallied over 13% in August 2026, one of its best months since the gold standard ended. Despite the blistering pace, the metal remains far from overbought, with seasonal and technical factors still in play.
Gold prices dropped more than 2.5% on Friday after Federal Reserve Chair Kevin Warsh delivered hawkish remarks at Jackson Hole. A rising US dollar and higher Treasury yields pushed the yellow metal lower.
Gold prices are holding steady and on track for a third consecutive weekly gain, supported by a weaker US dollar and lower Treasury yields. A drop in jobless claims has reinforced expectations that the Federal Reserve will keep interest rates unchanged in September.
Gold edged lower on Thursday as US Treasury yields trimmed earlier losses and the dollar firmed, pulling XAU/USD back to $4,509 from a daily high of $4,540.
Gold climbed sharply on Wednesday, breaching $4,480 as US Treasury buybacks pushed yields lower, even as Fed minutes revealed three officials dissented in favour of a rate hike.
Gold rose nearly 1% on Wednesday, helped by a softer US dollar and a pullback in long-term Treasury yields. Investors await the release of the Federal Reserve's July meeting minutes.
Gold fell on the MCX but rose internationally as Treasury yields eased. Rising oil prices and inflation concerns limit rate cut expectations. Experts view the correction as a buying opportunity.