
Gold Rally Builds Into Jackson Hole as Longs Hit 141,648
Gold futures hit $4,694.70 as CFTC data shows a fourth week of managed-money buying. Bull and bear cases ahead of Jackson Hole and the $4,400 level.
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Gold futures hit $4,694.70 as CFTC data shows a fourth week of managed-money buying. Bull and bear cases ahead of Jackson Hole and the $4,400 level.

Gold holds $4,605, silver $69.16, and platinum $16.68 as traders position for Jackson Hole. Support, resistance, and the CFTC data that matters.

Spot gold jumped 4.05% to $4,508.64 after Treasury doubled long-bond buybacks. CFTC positioning and World Gold Council data back the rally, but a hawkish Jackson Hole is the risk.

Gold fell to $4,389 and silver to $62.80 ahead of FOMC minutes. CFTC data shows rising longs and record Q2 central bank buying of 289 tonnes. MarketIntelLabs.

Brent crude ran $91.72-$92.36 on August 19 as the U.S.-Iran ceasefire lapses and Hormuz transit sits near a standstill. Here are the support, resistance, and cross-asset levels to watch.

Brent at $91.43, WTI at $85.37, Murban up 9.26% to $97.70 on August 18, 2026. The Strait of Hormuz disruption briefly pushed oil above $100/bbl before Iran signaled a partial reopening. Here is what the benchmark divergence, the $6.20 Brent-WTI spread, and simultaneous gold strength at $4,450 say about the macro stress building underneath the market.

Gold trades at $4,390/oz after its best monthly gain since January, backed by record Q2 central bank buying of 289 tonnes and hedge fund longs at an 11-month high. The structural bid is real. So is the crowding risk.

Gold futures settled at $4,453.50 on August 17, copper printed a new all-time high at $6.74, and WTI crude faces a supply-demand standoff at $80. Full CFTC positioning, central bank data, and price targets for all four major commodities.

Record central-bank gold buying and a 21-month PBOC streak point to a structural floor even as CFTC data shows managed-money longs stretched after the CPI pop.

Gold holds $4,408/oz as COMEX Managed Money net longs jump to 130,766 contracts, Brent slips to $88.37 on a Hormuz standoff, and copper sits near record highs after a Grasberg-linked smelter outage.

GLD is up 7.2% and SLV 11.6% off early-August lows as record central bank gold buying meets a dovish Fed repricing, with Wednesday's CPI print the next swing factor for a crowded managed-money long book.

Gold spot hit a fresh record near $4,417/oz Tuesday, up 10.38% over the trailing month, but the last CFTC positioning read is a week stale. Here is what that gap means going into Wednesday's CPI print, plus the copper and oil setups riding alongside it.