Gold bias flipped 12 times to neutral on August 28, 2026
Gold prices have been volatile, initially dropping after Fed official Warsh signaled more work on inflation and possible further tightening, but then recovering with buyers stepping in. Meanwhile, UBS raised its gold target to $5,400 an ounce, citing de-dollarization trends, and broader flows into gold and Bitcoin suggest haven demand amid dollar concerns.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 12 times during the day.
The day on the wire
00:0006:0012:0018:0024:00
The band shows the reading through the day; a mark shows where it changed. Each tick is a headline first seen that day.
The reading through the day
- 00:00Neutral
- 17:18Bearish
- 17:34Neutral
- 18:09Bearish
- 18:25Weak bullish
- 18:41Bearish
- 18:59Weak bullish
- 19:48Weak bearish
- 20:07Weak bullish
- 20:32Bearish
- 20:48Neutral
- 21:04Bearish
- 21:20Neutral
Headlines (14)
First seen on August 28
- Australian gold producer Westgold posts record underlying net profit of $480mMining Weekly
- Commodity weekly: From barrels to bushels and bullion as scarcity broadens the commodity rallyhome.saxo
- First Mining Gold inks First Nations agreementnorthernminer.com
- Gold and Silver Sink as Warsh Cites AI Boom to Justify More Fed TighteningGoldSilver
- Gold price drops as Warsh warns Fed still has ‘work to do’ on inflationMining.com
- investingLive Americas FX news wrap 28 AugInvestingLive
Carried over from earlier days
- $4700 tested as Gold pulls back but bullish potential remains intactFXStreet
- Gold retreats after flirting with $4,700: buyers still hold the gripFXStreet
- Gold’s glitter is here to stay as eyes turn to US inflation and Fed Chair WarshFXStreet
- XAU/USD Price forecast: Gold poised to extend its bullish runFXStreet
- Gold tumbles as high US inflation supports Fed hawkish betsFXStreet
- UBS backs de-dollarization trend, lifts gold target to $5,400 an ounceInvestingLive
- Gold recovers $4,600, buyers unwilling to give upFXStreet
- Investors just moved $7 billion into Bitcoin and gold in five days to escape an accelerating dollar crisisCryptoSlate
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, August 28 | ||
| Retail Sales y/y | CHF | |
| KOF Economic Barometer | 103.0 | CHF |
| FOMC Member Hammack Speaks | USD | |
| Chicago PMI | 57.9 | USD |
| Revised UoM Inflation Expectations | USD | |
| Prelim Benchmark Payrolls Revision | USD | |
| Revised UoM Consumer Sentiment | 51.0 | USD |
| Fed Chairman Warsh Speaks | USD | |