Gold Pulls Back 0.5% to $4,330/oz Amid Profit-Taking

Spot gold fell by 0.5% to $4,330.70/oz on August 14, 2026, as profit-taking pulled prices lower after reaching a two-month high just one day earlier.

The softer July US inflation report lowered the CME FedWatch's implied probability of a September Fed hike to 33% from 55%, reducing rate pressure on gold and preserving its appeal as a non-yielding asset.

Central banks bought a record 289 tonnes of gold in Q2 2026, up 62% year over year, more than offsetting the 45 tonnes of net redemptions from gold exchange-traded funds (ETFs).

The World Gold Council's Central Bank Gold Reserves Survey found that 89% of reserve managers see global reserves rising within 12 months, while a record 45% are targeting higher holdings at their own institutions.