What will Gold (XAUUSD) hit Week of August 24 2026?
Gold (XAU/USD) has rallied sharply into the week of August 24, 2026, trading near $4,650–$4,700 per ounce after breaking above the 200-day moving average amid a weaker U.S. dollar and lower Treasury yields. The primary catalyst is the U.S. Treasury’s expanded long-dated bond buyback program, which has eased pressure on the long end of the curve and fueled short-covering. Additional support stems from fading odds of a September Fed rate hike following softer employment and inflation prints, plus safe-haven demand tied to Iran sanctions and elevated oil prices. Central bank purchases, particularly from China, continue to underpin structural demand. Key near-term catalysts include the July PCE release on Wednesday and Fed Chair Kevin Warsh’s Jackson Hole speech on Friday, which could shift rate expectations and volatility in the dollar and yields. Overbought technical conditions suggest potential for short-term consolidation.