MacroAug 13, 2026, 3:45 AM

Gold Pulls Back from June 5 High as Fed Rate-Hike Bets Lift Dollar

Gold retreated from its strongest level since June 5 on Thursday, trading near the lower end of its daily range as oil-driven Federal Reserve rate-hike expectations supported the US dollar.

XAUUSD

Gold (XAU/USD) touched a fresh high since June 5 near the $4,450 area during the Asian session before losing ground. The metal was last trading near the lower end of its daily range.

The pullback came as oil-driven expectations for further Federal Reserve rate hikes underpinned the US dollar, adding pressure on dollar-denominated gold.

Source: FXStreet Forex News

4hMacroUS Manufacturing PMI Hits 56.0 in October, Highest Since May 2022S&P Global's US manufacturing PMI rose to 56.0 in October, beating expectations, while services and composite measures slipped slightly but remained near multi-year highs.
8hMacroNew US and Chinese AI billionaires add $87 billion in nine monthsCombined wealth of first-time AI billionaires from the US and China rose by $87 billion in the first nine months of 2026, reaching $221 billion, according to The Kobeissi Letter.
1dMacroAI token spending growth slows to 0.2% in September, lowest since November 2025Monthly AI token spending rose just 0.2% in September, the weakest pace since November 2025, as lower model prices and efficiency gains cut the average cost per million tokens.
1dMacroBorn2trade CEO: “Everything is about gold now. Gold traders dictate industry standards and features”Konstantin Rashap, CEO of Born2trade, says 70-90% of retail clients now trade gold, forcing brokers to compete on overnight swap costs, leverage and loyalty incentives rather than spreads alone.
2dMacroJapan Economy Minister Kiuchi Urges BOJ to Follow Joint StatementJapan’s economy minister Kiuchi said he hopes the Bank of Japan will guide policy appropriately based on its joint statement with the government, which calls for stable and sustainable price stability.

Related