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Published: 27 August 2026,09:02
Daily Market Analysis New
Key Takeaways:
*The Dollar Index rebounded after two weeks of losses as July PCE inflation remained elevated.
*Headline PCE held at 3.7% year-on-year, above market expectations of 3.6%.
*Core PCE remained steady at 3.3%, reinforcing concerns over sticky inflation.
*Higher Treasury yields supported the dollar as markets reassessed Fed tightening risks.
*Gold retreated from a three-month high as the stronger dollar and rising yields triggered profit-taking.
The Dollar Index rebounded after two consecutive weeks of losses as the Federal Reserve’s preferred inflation gauge showed that price pressures remain sticky. July PCE inflation held at 3.7% year-on-year, slightly above market expectations of 3.6%, while Core PCE remained steady at 3.3%.
The data reminded investors that inflation is still running above the Fed’s comfort zone, reducing confidence that policymakers can shift toward a more dovish stance soon. As a result, markets began to reassess the possibility that the Federal Reserve may need to keep monetary policy restrictive or even consider further tightening later this year.
This shift pushed U.S. Treasury yields higher, which helped the dollar recover from its recent weakness. Higher yields increase the appeal of dollar-denominated assets, giving the greenback fresh support after its two-week decline.
The stronger dollar and rising yields then weighed directly on gold. Gold prices retreated from their recent three-month high and moved back toward $4,600 an ounce, as investors locked in profit following the earlier rally.
For gold, the main pressure came from the rebound in real yield expectations. Higher Treasury yields increase the opportunity cost of holding non-yielding assets such as bullion, while a stronger dollar makes gold more expensive for holders of other currencies.
Looking ahead, market attention will turn to Fed Chairman Kevin Warsh’s Jackson Hole speech on Friday. A hawkish tone could extend the dollar’s rebound and keep gold under pressure, while a softer message may help bullion stabilize and regain some upside momentum.
Technical Analysis
GOLD, H4:
Gold prices are trading lower after retracing from the 4,695.00 resistance level, suggesting that upside momentum has started to weaken near recent highs.
Momentum indicators are turning softer, with the MACD showing increasing bearish momentum, while the RSI at 58 has retreated from higher levels but remains above the midline. This suggests that gold may extend its short-term correction, although the broader momentum has not fully turned bearish yet.
If selling pressure persists, gold could edge lower toward the 4,525.00 support level, followed by 4,440.00 if downside momentum strengthens.
However, if bearish momentum fails to sustain, gold may stage a technical rebound and retest the 4,695.00 resistance level, with further upside toward 4,900.00 if buyers regain control.
Resistance Levels: 4695.00, 4900.00
Support Levels: 4525.00, 4440.00
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