Gold prices today, Thursday, August 20, 2026: Gold rallies after Treasury announcement, FOMC meeting minutes

On Thursday, August 20, 2026, gold prices surged after the U.S. Treasury announced an increase in its purchases of long-term bonds. The benchmark 10-year Treasury rate fell by more than 5 basis points, and the 30-year benchmark declined by 9 basis points. The Federal Reserve also released minutes from the July meeting, revealing that some committee members argued for rate increases. These economic announcements led traders to push gold above $4,500 for the first time since early June.

Gold futures opened at $4,580 per troy ounce on Thursday, marking a 0.8% increase from Wednesday's closing price. As of 9:03 a.m. ET, the gold price was $4,535.80 per troy ounce. Lower interest rates benefit gold prices by reducing the holding cost relative to yield-bearing assets. The one-year gain for gold since January 29 was 95.6%.