Gold Jumps Nearly 3 Percent Ahead of Fed Minutes Release

Global precious metals markets rallied sharply on Wednesday, August 19, 2026 (28 Mordad 1405). According to Arzdigital, gold rose about 3 percent to near $4,490 an ounce ahead of the release of the Federal Reserve's July meeting minutes, while silver jumped 4 percent to $65.60. The gold to silver ratio fell from 68.5 to 67.9. CME FedWatch data showed the odds of a Fed rate hike, previously at 82 percent, falling to 30 percent following weaker than expected mid August consumer inflation data, while the real yield on 10 year US Treasuries fell to 2.41 percent, reducing the opportunity cost of holding gold.

According to Trading Economics, gold's rally continued through Wednesday evening Tehran time, reaching $4,511 an ounce, up 4.06 percent on the day and its highest level since early June. Analysts point to Fed Chair Kevin Warsh's speech at the Jackson Hole symposium on August 28 and the US August jobs report on September 4 as the next catalysts for the rate path.