TBM Report
Gold prices rebounded in the international market on Wednesday following a drop in US Treasury bond yields, while oil prices continued their upward streak for a fourth consecutive day.
Global news agency Reuters reported on Wednesday (August 19, 2026) that spot gold rose 0.6% to reach $4,359.58 per ounce. The precious metal had experienced a nearly 2% slide in the previous session due to interest rate hikes. Meanwhile, US gold futures slipped 0.2% to settle at $4,413.40.
Kelvin Wong, Senior Market Analyst at OANDA, noted that reduced expectations of aggressive Federal Reserve rate hikes and growing concerns over the US fiscal budget provided direct support to bullion prices. According to the CME FedWatch tool, the probability of the Fed holding interest rates steady next month stands at 67%, compared to a 33% chance for a rate increase.
Lukman Otunuga, Head of Market Research at FXTM, highlighted that if spot gold breaks above the $4,390 threshold, it could rally toward $4,505 per ounce. Conversely, a drop below $4,300 might push prices down to the $4,200 and $4,150 support levels.
Geopolitical developments also drove volatility in the energy market. Crude oil prices climbed for a fourth straight session after US President Donald Trump stated that no active negotiations were underway with Iran, though the Strait of Hormuz remains open.
Among other precious metals, spot silver edged down 0.1% to $63.22 per ounce, while platinum gained 0.5% to $1,720.43, and palladium held steady at $1,290.55. TD Securities projected that silver and platinum could outperform gold in the second half of 2027 as macro-economic conditions stabilize.
