Weekly Special Report: Gold

EVENTS:

• FRIDAY, AUGUST 21 AT 14:45 GMT+1: U.S. MANUFACTURING AND SERVICES PMI (AUGUST). Investors will monitor both PMIs for further signs of slowing U.S. economic activity. A weaker reading could increase expectations of a looser Federal Reserve monetary policy, weighing on the U.S. dollar and supporting gold price.
• WEDNESDAY, AUGUST 26 AT 13:30 GMT+1: U.S. CORE PCE PRICE INDEX (JULY). Investors will closely watch the Federal Reserve’s preferred inflation measure after Core PCE remained at 3.3% in June. Another decline could further reduce expectations of interest rate hikes, weakening the U.S. dollar and supporting gold price.

U.S. GOVERNMENT:

• BREAKING (AUGUST 19): U.S. TREASURY ANNOUNCES MORE AGGRESSIVE LONG-TERM BOND REPURCHASE PROGRAMME. The Treasury will double the size of its long-term bond repurchase operations to $4 billion from $2 billion, starting September 9. The Treasury had already planned around $69 billion of repurchases across all maturities between August and November, with the larger operations expected to add at least $14 billion, bringing the total to around $83 billion. The larger buybacks could increase liquidity in financial markets, potentially weighing on the U.S. dollar and supporting gold price.

JACKSON HOLE ECONOMIC SYMPOSIUM HOSTED BY THE U.S. FEDERAL RESERVE

• EVENT (AUGUST 27 – 29): JACKSON HOLE ECONOMIC SYMPOSIUM HOSTED BY U.S. FEDERAL RESERVE. The annual Jackson Hole Economic Symposium, hosted by the Federal Reserve Bank of Kansas City, brings together global central bankers, economists, and policymakers to discuss key economic challenges. Markets will focus on U.S. monetary policy, inflation, economic growth, and future interest rate decisions under new Fed Chair Kevin Warsh.
• EVENT (EXPECTED: FRIDAY, AUGUST 28 AT 15:00 GMT+1): U.S. FED CHAIR KEVIN WARSH SPEECH. His first Jackson Hole speech as Fed Chair could provide important insight into the Fed’s policy direction.

CHINA

• JULY PURCHASES: China bought gold for the 21st consecutive month in July. The People's Bank of China added 640,000 ounces in July, which was the biggest monthly ​gain since October 2023.
• GOLD RESERVES INCREASE: China's official gold reserves rose from 75.44 million ounces in June to 76.08 million ounces in July 2026. China is now the fifth largest official gold holder in the world.

PRICE ACTION

• GOLD PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 28, 2026 ($5,597.41). Gold price currently trades at around $4,480, and if it fully recovers to its previous all-time high, it could see an upside of around $1,117. However, the price could also decline.
• FORECAST: Wells Fargo forecasts $4,900; Bank of America forecasts $4,800; Goldman Sachs forecasts $4,900; Morgan Stanley forecasts $5,200; UBS forecasts $5,500; JPMorgan forecasts $6,000; Deutsche Bank forecasts $4,800; Citigroup forecasts $5,000; Societe General forecasts $6,000.

TECHNICAL ANALYSIS

• NEW SUPPORT AREA: Gold has formed a new support area between $4,400 and $4,300. This range has acted as an important technical level several times in the past, and after the recent move higher, it could now provide support if price pull back.
• BREAKING (AUGUST 13): GOLD REACHED ITS HIGHEST LEVEL IN 11 WEEKS. Gold touched $4,527.11, continuing its recovery. Although, price could decline, too.

GRAPH (Daily): September 2025 – August 2026

Please note that past performance does not guarantee future results

Gold, August 20, 2026
Current Price:  4,480

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 100 units
2.  Calculations for exchange rate used as of 10:50 (GMT+1) 20/08/2026

You can use risk management tools such as Stop-Loss and Take-Profit.