Gold prices today, Wednesday, August 19, 2026: Gold strengthens ahead of FOMC minutes release

Gold (GC=F) December futures saw an opening at $4,391.40 per troy ounce on Wednesday, August 19, 2026, marking a 0.7% decrease from the previous day's closing price. Currently, gold is trading at $4,479.90 per troy ounce as of 8:53 a.m. ET.

Initially, gold opened lower on Wednesday but experienced gains as the U.S. dollar and Treasury yields experienced a slight decline. The U.S. Dollar Index (DX-Y.NYB) decreased by 0.2%, while the benchmark CBOE Interest Rate 10 Year T No (^TNX) dropped 0.4%.

The 10-year yield remains close to its 12-month peak, set on July 31. A weaker U.S. dollar is anticipated before the release of the FOMC's minutes from the July meeting, prompting investors to scrutinize the minutes for clues about the Fed's interest rate trajectory in the short term.

However, the situation is further complicated by the Middle East conflict, which heightens inflation risk, and recent soft retail sales. The CME FedWatch estimates a 67.4% chance that the Fed will refrain from altering interest rates during the September meeting.

Given that rate hikes make yield-bearing assets more appealing, a potential Fed rate hike could adversely affect gold prices. Conversely, if interest rates remain unchanged, gold's value may rise. Over the past three weeks, gold has surged by more than 10% as the expectation of rate hikes has diminished.

Here's a comparison of the opening gold price for Wednesday, August 19, 2026, with prices from previous periods: the opening price is down 0.7% from Tuesday's close. Over the past week, month, and year, gold has seen a gain of 95.6%.