Gold held a two-day gain as market participants reduced expectations for a Federal Reserve interest-rate hike. This shift weakened the U.S. dollar, making the precious metal more affordable for international buyers. Spot gold prices ranged from $4,387 to $4,440 per ounce on August 17, 2026, while the U.S. Dollar Index hovered between 99.4 and 99.7. Prediction markets show a marginal increase in the probability of gold reaching higher price targets by the end of December 2026, though overall odds remain low. This environment could support gold prices in the near term.
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