Gold ends lower as US inflation keeps Fed debate alive
XAUTicker showed spot gold down 1.43% at $4,593.20 as PCE headlines kept attention on the Fed rate path; silver eased to $68.09.
XAUTicker showed spot gold at $4,593.20 per troy ounce late in the session, down $66.49, or 1.43%, from a previous close of $4,659.70. The metal traded between $4,585.36 and $4,673.53 on 26 August 2026, leaving the US hours resolved on the defensive rather than near the top of the range. XAUTicker showed silver at $68.09, down 0.94%, with the gold/silver ratio at 67.5. KITCO said gold dropped after in-line US inflation data, while USAGOLD said physical gold retreated as core PCE held steady.
Continued from the morning edition of 26 August 2026. Prices below are frozen at publication — the live gold price has the current figure, and this guide covers what tends to move it.
Selling into the US session
The decline was not confined to the live feed. KITCO reported that gold dropped 1% after in-line US inflation data, and USAGOLD said physical gold retreated as core PCE held at 3.3% while silver steadied near the live-feed level. TradingNEWS described XAU/USD as retreating from a three-month high. Moneycontrol.com and Greater Kashmir reported that gold snapped a four-day rally in Delhi amid profit booking. Those headlines framed the US session as a reversal from strength rather than a continuation of the morning tone.
- Gold drops 1% after in-line U.S. inflation data KITCO
- Physical Gold Retreats from $4,700 as Core PCE Holds at 3.3%; Silver Steadies Near $68 usagold.com
- Gold Price Forecast — XAU/USD ($4,621) Retreats From $4,697 3-Month High on 3.7% PCE — $4,775 Target TradingNEWS
- Gold prices fall by Rs 600 in Delhi, snaps 4-day rally amid profit booking; silver rises by Rs 500 Moneycontrol.com
- Gold snaps 4-day rally, falls Rs 600 to Rs 1.66 lakh/10g amid profit booking Greater Kashmir
PCE keeps rates in focus
The inflation headlines were mixed in tone but consistent in keeping rates central. FXStreet said US core PCE inflation held steady at 3.3% in July as expected. The Globe and Mail called the Fed’s preferred inflation gauge slightly hotter than expected, while CBS News said the July PCE inflation index held at a 3.7% annual pace and was slightly hotter than expected. TradingKey reported that July core PCE rose 0.2% month on month in line with expectations and said inflation remained above the 2% target. International Business Times said expectations of a rate hike edged up after the Fed’s preferred inflation gauge rose in July.
- Breaking: US core PCE inflation holds steady at 3.3% in July as expected FXStreet
- The Fed's Preferred Inflation Gauge Came In Slightly Hotter Than Expected. Here's What Investors Need to Know The Globe and Mail
- July PCE inflation index held at 3.7% annual pace, slightly hotter than expected CBS News
- US July Core PCE Rose 0.2% MoM in Line With Expectations, Inflation Remains Above 2% Target as Fed Rate Path in Focus TradingKey
- The Fed’s Preferred Inflation Gauge Rose In July. Expectations Of a Rate Hike Edged Up. International Business Times
Jackson Hole headlines build
Fed communication stayed in the foreground after the data. Reuters reported that anxious investors were hoping for clarity on Warsh’s Fed plan at Jackson Hole. Euronews.com said Warsh faces yields, a Treasury rescue and inflation at Jackson Hole, and Capital Brief put US core inflation at 3.3% ahead of Kevin Warsh’s speech. ING THINK said US spending stalled as inflation made slow progress toward target. TradingKey said the Fed rate path was in focus, while HOKANEWS.COM said markets were awaiting Federal Reserve policy signals.
- Anxious investors hope for clarity on Warsh's Fed plan at Jackson Hole Reuters
- Warsh faces yields, a Treasury rescue and inflation at Jackson Hole Euronews.com
- US core inflation holds at 3.3% ahead of Kevin Warsh speech Capital Brief
- US spending stalls as inflation makes slow progress towards target - ING THINK economic and financial analysis | ING THINK ING THINK economic and financial analysis | ING THINK
- US July Core PCE Rose 0.2% MoM in Line With Expectations, Inflation Remains Above 2% Target as Fed Rate Path in Focus TradingKey
- U.S. PCE Inflation Data in Focus as Markets Await Federal Reserve Policy Signals HOKANEWS.COM
Gold exposure broadens
Gold-linked products also stayed in the news as prices fell. European Business Magazine contrasted gold-backed tokens with gold futures as different ways to track gold. The Globe and Mail asked whether it was too late to buy a gold ETF after the metal’s surge. CoinDesk and Crypto Briefing reported that MicroBit launched Hong Kong’s first Bitcoin and gold ETF on HKEX. Pluang said real yields affect gold, Bitcoin and stocks by showing bond returns after inflation, another headline tying bullion to broader cross-asset pricing.
- Gold-Backed Tokens vs Gold Futures: Two Different Ways to Track Gold European Business Magazine
- Gold Has Soared to $4,600. Is It Too Late to Buy This ETF? The Globe and Mail
- MicroBit Launches Hong Kong’s First Bitcoin and Gold ETF on HKEX Today CoinDesk
- Hong Kong debuts first dual Bitcoin and gold ETF from MicroBit Crypto Briefing
- Real yields impact gold, Bitcoin, and stocks by showing bond returns after inflation. Pluang
What to watch
- Fed-rate-path headlines after PCE readings described as in line or slightly hot.
- Jackson Hole remarks for any Warsh policy signals reported by Reuters and others.
- Whether ETF and token headlines keep retail focus on gold exposure.
- Silver at $68.09 and the gold/silver ratio at 67.5 on the XAUTicker feed.