Commodities
Gold Price Stalls at $4,400 for Fifth Consecutive Day
Gold's price stalled at $4,400 for the fifth consecutive day on August 17, stuck below its descending trend line from January's record high of over $5,500.
The trend line now intersects with a resistance band that has been holding back gold's recovery since last week. Despite reaching a two-month high on August 12, gold failed to break through the trend line and confirm a daily breakout.
Gregory Shearer, head of Base and Precious Metals Strategy at J.P. Morgan, noted that rate-hike risk had created a 'deeper freeze' in the bank's 2026 mid-year outlook for precious metals prices.