08/26/2026
Gold prices extended losses on Wednesday after U.S. inflation data came largely in line with expectations, increasing bets on a Federal Reserve interest-rate hike next month, while investors also awaited remarks from Chairman Kevin Warsh this week.
"Gold's price action up to today's data was just some profit taking ... PCE data came in largely in line with expectations, so we're consolidating within yesterday's range at this point," said Peter Grant, vice president and senior metals strategist at Zaner Metals.
You can see Peter Grant at this week's ANA World's Fair of Money Show!
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Gold prices extended losses on Wednesday after U.S. inflation data came largely in line with expectations, increasing bets on a Federal Reserve interest-rate hike next month, while investors also awaited remarks from Chairman Kevin Warsh this week.