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Silver $66.72 Β· Gold rallies to 2-month high on Treasury buyback demand ‌ ‌ ‌ ‌ ‌
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Gold Mornings
Your weekday morning read on gold, metals and miners.
Issue #44 Β· Thursday, August 20, 2026
Gold volatility (GVZ)  Cautious Β· 26.7  β–² from 24.0 yesterday
Worth noting  Gold crossed above $4,500 since yesterday.
Gold and silver rose sharply today as Treasury moves fueled safe-haven demand, while gold miners surged nearly 10 percent amid cautious volatility.
 
 

●  The Numbers

Gold$4,539.20  +1.11%
+4.02% this week
Silver$66.72  +1.50%
+2.85% this week
Platinum$1,822.20  +1.09%
+5.62% this week
Palladium$1,334.00  +0.16%
+0.86% this week
Copper$6.42  -1.03%
-2.61% this week

●  The Movers

Leaders

AEM Agnico Eagle+11.12%
GDX Gold Miners ETF+9.42%
NEM Newmont+7.85%

Laggards

HG=F Copper-1.03%
PA=F Palladium+0.16%
PL=F Platinum+1.09%

The day's best and worst of the tracked metals and miners Β· day-over-day change.

●  The Read

Gold β€” description, not prediction

Trading above both its 50-day ($4,166.08) and 200-day ($4,495.67) averages β€” the longer-term trend reads as up. 30-day range $3,985.60–$4,539.20; currently in the upper third of that range. RSI(14) 84 β€” traditionally described as overbought.

See where every market sits on the daily page β†’

What's pushing gold today: the dollar & Treasury yields  on the Dollar & Yields page β†’

●  The Brief

 Gold rallies to 2-month high on Treasury buyback demand

Gold climbed past $4,539 as US Treasury buybacks supported prices, though some pullback occurred after the initial surge. Treasury moves often signal shifting monetary or market conditions that matter to precious-metals investors. (Investing)

 Omai gold project valued at $4 billion in Guyana

Omai positioned its undeveloped Guyana gold project among South America's largest and most valuable, signaling major capital deployment in a high-growth mining region. Large-scale project announcements typically influence sentiment toward gold-mining equities. (Mining.com)

 Oil hits 3-week high amid Middle East supply concerns

Crude rose to its highest level in three weeks as geopolitical tensions in the Strait of Hormuz pressured energy supplies. Safe-haven rallies in oil and gold often move together during risk-off periods. (Investing)

 Morgan Stanley updates gold price outlook for 2027

Morgan Stanley released a forward-looking gold forecast for 2027, offering institutional perspective on longer-term precious-metals trends. Major bank outlooks help frame the macro backdrop for gold investors. (Investing)

Partner

The charts we read every morning

TradingView is the charting platform a lot of "The Read" leans on β€” live gold, silver and miner charts, screeners and alerts. New to it? This link puts $15 toward a paid plan.

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Metals 101

What is palladium?

A rare metal used mostly in gasoline-engine catalytic converters. Its price is driven by car production and tight supply, which has made it one of the most volatile of the precious metals.

β€œMetals mirror the dollar and the day's mood β€” a description, not a forecast.”

Gold Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Metals carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured each morning before the US open.

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