Conclusion: The gold-forex rally has paused, not disappeared. Spot gold eased to about $4,624.87 per ounce at 08:08 GMT on August 25 after reaching a more-than-three-month high, as profit-taking and a firmer dollar arrived before U.S. PCE and the Fed Chair's Jackson Hole remarks.
Reuters reported that gold slipped 0.6% in Tuesday trading, while December U.S. futures fell 0.4% to $4,681.50. The prior session's rally had been supported by a weaker dollar, Treasury-market concerns and technical buying.
| Driver | Gold-positive outcome | Gold-negative outcome |
|---|---|---|
| U.S. dollar | Renewed weakness | Sustained rebound |
| Real yields | Stabilise or fall | Rise sharply |
| PCE inflation | Eases policy pressure | Revives tighter-policy risk |
| Jackson Hole | Reassures on inflation control | Lifts real-rate expectations |
✓ A USD move changes the metal's price for non-dollar buyers.
✓ Real yields affect the opportunity cost of holding a non-yielding asset.
⚠ A technical target is not a verified future price. The reaction must be observed after the data and speech.
This August 25 XAU/USD briefing maps current technical levels. It is included only as a fresh chart interpretation; prices and event facts are sourced from Reuters and BEA.
Research note: X and Google News were screened; price forecasts from social posts were excluded. This is analysis, not personalised investment advice.