Global Gold Retreats 0.6 Percent on Profit Taking as US Debt Tops 40 Trillion Dollars for First Time

The spot price of global gold fell 0.6 percent on Thursday, August 20, 2026 (29 Mordad 1405), to 4,495.69 dollars an ounce, after earlier touching 4,525.79 dollars, its highest level since June 2. According to Boursenews, the pullback followed gold's more than four percent jump on Wednesday, as investors booked profits; US gold futures rose 0.2 percent to 4,553.30 dollars in the same session.

Ilya Spivak, head of global macro at tastylive, said that after such a large jump, markets need to digest and consolidate the move, and that if prices hold above the 4,400 to 4,500 dollar range, gold's uptrend will likely continue. At the same time, total outstanding US government debt topped 40 trillion dollars for the first time. Edward Meir, an analyst at Marex, said growing concern over US fiscal stability and debt was a positive factor for gold prices. Citing Reuters and the CME FedWatch tool, traders now see a 67 percent probability the Federal Reserve holds rates steady next month against a 33 percent chance of a hike. Among other precious metals, silver rose 0.2 percent to 67.07 dollars, platinum fell 1.3 percent to 1,802.29 dollars, and palladium fell 0.2 percent to 1,328.06 dollars.