Gold Price Today, August 19, 2026: Gold Rebounds Near $4,355 as Fed Minutes Loom
Date: August 18, 2026
Key Takeaways
- Gold price recovered towards $4,355 per ounce after a nearly 2% decline on Tuesday.
- Easing US Treasury yields supported gold prices, although high oil prices and inflation concerns limited gains.
- Traders are awaiting the Federal Reserve meeting minutes for insights on interest rates for September.
Gold Price Recovery
On August 19, gold prices edged higher as US Treasury yields retreated from recent highs. XAU/USD was trading near $4,355 per ounce, marking a 0.5% increase for the session. Earlier, spot gold was at $4,342.33, up 0.2%, recovering from a nearly 2% drop the previous day.
Market Dynamics
US gold futures for December delivery were down 0.6% at $4,396.30, reflecting ongoing uncertainty regarding interest rates and inflation. The previous day's decline was attributed to a global bond sell-off, with the US 30-year Treasury yield reaching 5.33% and the 10-year yield nearing 4.75%. Higher yields typically diminish gold's appeal as it does not yield interest.
Federal Reserve Minutes as a Catalyst
Attention is focused on the Federal Reserve's July policy meeting minutes, set to be released at 18:00 GMT. Recent weaker US economic data has shifted interest-rate expectations, with a 65% probability that rates will remain unchanged in September. Traders will scrutinize the minutes for indications of policymakers' concerns about inflation, which could influence Treasury yields and gold prices.
Geopolitical Factors and Oil Prices
The ongoing US-Iran conflict and uncertainties in the Strait of Hormuz are significant factors affecting the gold market. While geopolitical risks typically boost demand for safe-haven assets like gold, rising oil prices due to these tensions are raising inflation concerns. This duality complicates gold's outlook, as higher inflation could lead the Fed to maintain or increase interest rates.
Physical Demand for Gold
Despite short-term fluctuations, physical demand from China and central banks provides underlying support for gold prices. Central banks purchased a record 289 tonnes of gold in Q2 2026, with China adding 20 tonnes in July. This demand has contributed to a 30% increase in gold prices compared to the previous year.
Technical Outlook for Gold
Gold is attempting to stabilize after testing the $4,324–$4,320 support region. The first resistance level is around $4,381–$4,385, which includes the 100-day simple moving average. A sustained move above this could lead to a retest of the psychological $4,400 level. Conversely, a decisive break below $4,320 could expose lower levels around $4,300 and $4,250–$4,280.
Conclusion
The immediate technical bias for gold remains cautious while trading below $4,385, but the recovery from intraday lows indicates active buying interest around $4,320–$4,350.