Les prix à la consommation aux États-Unis ont ralenti sur un an en août, montrent les données publiées mercredi par le département du Commerce. L'indice des prix de la consommation personnelle (PCE) a augmenté de +3,4% en rythme annuel, après +3,7% en juillet.

Le métal jaune reste un produit qui fait rêver. Plusieurs entreprises veulent en simplifier l’achat de l'or pour les particuliers et surtout sa conservation.

Gold (XAU/USD) reverses its earlier gains on Wednesday after briefly climbing above $4,200 in reaction to softer-than-expected US Personal Consumption Expenditures (PCE) inflation data. The initial move fades as the US Dollar (USD) trims its losses and US Treasury yields resume their advance.

In December 2015, the Federal Reserve raised interest rates for the first time in nearly a decade. Most traders expected metals to keep falling. Instead, gold bottomed right around that hike, and silver went on to rally roughly 50% over the next seven months. Earlier this month, the Fed delivered its first hike of this cycle, and silver is sitting right at the level we said it needed to hold. In August, we wrote here on Kitco that $63 to $60 was silver's pocket support. Every Sunday in our Navigating the Week Ahead report, we map the key levels and setups in gold and silver before the trading week opens. If you want the roadmap for next week in both markets,  Sign up here. The question we keep getting is simple: is this where silver turns? We believe it may be, and 2015 explains why. The hike itself was not bullish. What changed was that the uncertainty was gone. Once the market stopped guessing about the Fed, money came back into metals. Gold rallied 31%, and silver did even better.This year's pressure started on March 2nd, when the US and Iran conflict began and crude oil gapped higher. The market priced in a hawkish Fed, ten-year yields climbed to their highest levels since 2007, and silver gave back roughly 47% from its highs. None of that changed silver's sixth consecutive annual supply deficit, and we believe the longer-term case remains intact.Daily Silver ChartThe technicals line up with that view. The $63 to $60 pocket support is holding so far. A move back above $72 could open the door to $80, with $100 still in view over the longer term.For those looking to get involved, there are a few ways to participate depending on your experience and risk tolerance.Two Example 5,000-Ounce Silver Call SpreadsFor traders who want defined-risk exposure, here are two bull call spreads on COMEX silver futures, for example purposes only. Each option controls 5,000 ounces, so every $1 between the strikes is worth $5,000.The Faster Move: January 80/82. One could purchase a January silver 80 call while selling the January 82 call against it. The approximate cost is $1,000 per spread plus any transaction fees, and that is the most you can lose. If silver closes above $82 at expiration on December 28, the spread pays $10,000 less the cost of the spread and transaction fees. Breakeven at expiration is approximately $80.20. Silver would need to rally roughly 25% in about three months for this spread to pay in full.The Longer Runway: March 78/83. One could purchase a March silver 78 call while selling the March 83 call against it. The approximate cost is $3,500 per spread plus any transaction fees, and that is the most you can lose. If silver closes above $83 at expiration on February 23, 2027, the spread pays $25,000 less the cost of the spread and transaction fees. Breakeven at expiration is approximately $78.70. Silver would need to rally roughly 26% for this spread to pay in full, but it gives the move about five months, closer to the 2016 timeline.For active traders comfortable with futures margin, the standard 1,000-ounce COMEX silver contract offers direct exposure to every dollar move in the silver price. For those newer to futures, the 100-ounce Micro Silver contract lets you participate with a fraction of the margin. To receive more information on trading the 100-ounce Micro Silver futures, sign up here.Performance DisclaimerHypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading.For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.

Gold prices fell more than 1% on Monday as oil prices climbed and concerns over inflation increased, strengthening expectations that the US Federal Reserve could raise interest rates again.

Gold crashes below $4,200 as oil shock backfires: here’s why $4,000 matters

Les prix de l'or Ancarat sont actuellement cotés entre 140,7 et 144,2 millions de VND/once, soit une baisse d'environ 1 million de VND/once tant au prix d'achat qu'au prix de vente.

Le cours de l'or progresse vendredi pour lapremière fois depuis cinq séances, bénéficiant d'unreflux des tensions sur le m - 25/09/2026 16:19

 

Découvrez l’analyse du cours de l’or : consolidation, impact de la hausse du dollar et scénarios clés pour les investisseurs.

En Allemagne, des escrocs ont mis en place une arnaque en se faisant passer pour des acheteurs d'or. Des investigations sont en cours.

(Kitco News) – Gold prices survived another difficult week as early attempts to stabilize above $4,350 were overwhelmed by higher Treasury yields, hawkish Federal Reserve expectations, and persistent inflation concerns tied to energy prices and the U.S.-Iran conflict.Spot gold kicked off the week trading at $4,383.44 per ounce on Sunday evening, and the yellow metal briefly pushed higher as traders continued to monitor Middle East diplomacy and the risk premium around the Strait of Hormuz. The move quickly stalled, however, with gold setting its weekly high at $4,387.51 per ounce on Sunday evening before sellers regained control.The metal came under renewed pressure Monday and Tuesday as a rally in equities, higher yields, and a firmer dollar reduced demand for safe-haven assets. Gold attempted to stabilize midweek, but hawkish Fed commentary and sticky inflation concerns kept traders focused on the likelihood of additional rate hikes after last week’s 25-basis-point increase.Selling accelerated Wednesday and Thursday as Treasury yields continued to rise, increasing the opportunity cost of holding non-yielding bullion. Spot prices broke below $4,300 and ultimately set their weekly low of $4,244.63 per ounce on Thursday before bargain-hunting emerged near the lower end of the week’s range.Gold recovered modestly on Friday as oil prices eased on renewed hopes for a U.S.-Iran deal that could reopen the Strait of Hormuz, while the dollar slipped and dip-buyers stepped back into metals markets. But the rebound remained capped by elevated rate-hike expectations, and spot gold failed to reclaim the $4,300 per ounce level ahead of the weekly close.The latest Kitco News Weekly Gold Survey showed Wall Street with no clear conviction on gold’s near-term direction, while Main Street maintained its bullish majority despite gold’s weak weekly performance.“I like gold next week on ideas that the pendulum of Fed expectations has swung as far or nearly as far as they will, and the next batch of important US data will reinforce that,” said Marc Chandler, managing director at Bannockburn Global Forex. “Next week, U.S. reports August PCE deflator that will include a methodological adjustment that will shave some inflation off, and September jobs growth looks weaker than in August. Still, gold needs to rise above $4400 to be anything noteworthy.”“Up,” said Darin Newsom, senior market analyst at Barchart.com. “Technically, the Dec gold futures contract is oversold on its short-term daily chart, but as the old saying goes, a market can stay overbought (or oversold) longer than most of us can remain solvent. (A take on Keynes view of irrational behavior in a market.) Based on Game Theory - and after all this is nothing more than a game of how algorithms will be triggered these days - this will be my third consecutive week of saying Up, with one correct (two weeks ago) and one incorrect (this past week). This makes the coming week the Rubber Match for the best two out of three.”“For the record, fundamentally nothing has changed,” Newsom added. “US Treasury yields continue to go higher because of inflation while central banks continue to buy gold.”“Up,” said Rich Checkan, president and COO of Asset Strategies International. “Investors are starting to come around to the fact that there is only so far the FED can raise rates… since we cannot afford the current debt servicing of $1.6 trillion per annum (4% of $40 trillion). And since Congress will never stop overspending, gold will go higher. This is a no-brainer.”“For the coming week I am neutral on Gold,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. “I just don’t see many major catalysts.”“Down,” said James Stanley, senior market strategist at Forex.com. “The issue with yields isn’t going away anytime soon and bonds seem fragile, so I’m looking for a spike in yields that I think could possibly bring a tradable low in gold. As long as we’re above 4k, I think there’s still rationale for a bullish long-term bias and 4100 would be even more ideal for support given how well that showed as resistance before the breakout in August.”Adam Button, head of currency strategy at investingLive, believes much of gold’s recent weakness can be chalked up to peaking yields.“You saw the clear correlation when it broke at five percent again,” he said. “It shot higher; gold went down. Gold is a bit of a risk asset too, so that's the drag. It was rough there yesterday and the day before. Seasonals kick in really in November, so you're looking for a dip to buy at any point.”“The dollar's going up again. It hasn't been a great week for gold, but it's holding in there okay.”Button sees 2026 as a two-part story, and he says we’re still in the consolidation phase after gold’s remarkable run above $5,000 in the early months.“$4,000 proved to be pretty strong [support],” he said. “Now we've got yields over 5%, and we're still at $4,300. It might just take a while to consolidate that huge run from $2,000 to $5,000. And if we're doing that up in the $4,500 to $4,700 range, it's not bad. All the long-term gold drivers are as good as ever.”And just as marginal buyers were a big part of gold’s run to all-time highs earlier in 2026, Button said they’re also jumping on these multi-decade high yields now.“There's always the marginal buyer out there,” he said. “A gold bug is going to buy on anything, and someone who's committed to gold is already pretty well loaded up. But it's the guy who is faced with either a, let's call it, five percent risk-free return or gold. I think everyone has a price on the curve, and you're just finding out where it is. I think it does get difficult for gold to compete.”Going forward, Button expects the markets will be very focused on the data, and that’s what he will be doing as well – but he’s less interested in the jobs report than he is in some of the leading employment indicators.“[Nonfarm payrolls] is such a lagging indicator,” he said. “These survey data are probably the best ones. ISM services is probably the number-one circled on my calendar, because I think if jobs is strong, I don't know if anyone's going to believe it. But again, maybe I'm overthinking it. Strong jobs report, strong economy, sell more bonds, pricing a good economy, pricing more hikes. It probably wouldn't convince me, but it would convince the market that we're headed in the right direction.”This week, 14 analysts participated in the Kitco News Gold Survey, with Wall Street fairly evenly trisected between bulls, bears and the fence-sitters following last week’s unanimous bullish bias. Five experts, or 36%, expected to see gold prices gain ground during the week ahead, while four others, representing 29%, saw the yellow metal falling further. The remaining five analysts, 36% of the total, expected the yellow metal to move in a volatile sideways channel next week.Meanwhile, 152 votes were cast in Kitco’s online poll, with Main Street investors maintaining their bullish majority virtually unchanged. 86 retail traders, or 57%, looked for gold prices to rise next week, while 35 others, or 23%, predicted the yellow metal would lose ground. The remaining 31 investors, representing 20% of the total, expected to see sideways price action during the week ahead.Next week will feature a raft of employment data, along with snapshots of the manufacturing sector and the health of the American consumer.Early Tuesday morning, the Reserve Bank of Australia will issue its monetary policy decision, with U.S. Consumer Confidence and JOLTS job openings being released early in the North American session. Then Wednesday morning will see the release of ADP Nonfarm Payrolls, along with Final Q2 U.S. GDP and the PCE index.Then on Thursday, traders will pay attention to the ISM Manufacturing PMI for September, along with weekly jobless claims..The economic news week wraps up Friday morning with the publication of the Nonfarm Payrolls report for September.Kevin Grady, president of Phoenix Futures and Options, said he’s not looking to the price charts for clues to gold’s direction, but to the Middle East and the Federal Reserve.“I get that when they look at the charts and say, ‘Oh, it's breaking out,’ that's great,” he said. “But I don't look at it that way. It's a rally, and there's a lot of things behind it that are pushing it, and we’re starting to see open interest come in, which is big. But until we get this Iran situation taken care of… and also interest rates, we haven't had a lot of clarity.”“I'm following the bond market and Iran. That's what I'm following.”Grady said there’s truth to the idea that high yields won’t necessarily restrain gold’s upside as much as they have in the past.“I agree with it, because there's a lot that's going on in the bond market, and it's not just about Iran,” he said. “If you look at what's going on in the bond market, I think a lot of it has to do with the debt. I also think the AI trade has a lot to do with what's going on in the bond market. When you have Google offering a ten-year bond at 6.4%, it's very difficult to compete. That's competition for the Treasury market. And also, when you see Microsoft has a higher debt rating than the U.S. government.”“What's happening now is gold's trying to find its footing,” he said. “This is a new era for gold. ‘Wait a minute, higher rates, and it means that we can still rally? What is the meaning behind why this is?’ People are trying to determine why the yields are rallying.”Grady said he expects gold prices to fall further in this high-rates, high-yields environment, and he thinks this will actually be good for the yellow metal in the longer term.“I do want to see gold pressured,” he said. “I think the best way to see how strong a market is is to sell it. That's what happened with gold last time. They push it down under $4,000, and what's going to happen? All of a sudden, the support came in. And the support came in droves, and it just really drives the market.”“Right now, I think you're going to see some support down there,” Grady said. “This is a knee-jerk reaction where it's just the old-school thinking ‘interest rate hikes, gold's going lower. It's just like A equals B, and that's what it is. I think there's a new dynamic in the market because there's a lot more going on, and I think as the market digests that, I think that you're going to start seeing some higher prices. I'd like to see gold down here. I think the next two hundred dollars, I think there's some support here. And the m—“We used to say on the floor, the market right now is eating its vegetables. It has to do its work. It’s not easy, nobody wants to do it. But you have to eat your vegetables.”Alex Kuptsikevich, senior market analyst at FxPro, said gold is ending the week on the back foot after falling back below $4,300.“During the week, the price per ounce dipped below $4,250 and rebounded from this support level, as it did the previous week,” he said. “Despite rebounding from this horizontal support level, the price has settled below its 50-day moving average and the uptrend support line in place since July. Fundamentally, the pressure stems from a tighter monetary policy outlook in the foreseeable future. Over the week, the market’s weighted average expectation for the rate in a year rose to 4.77% and, on Thursday, exceeded 4.80%, compared with 4.68% a week earlier and 4.05% a month ago. The main scenario (>50%) is now for four rate rises over the next 12 months. The Fed kept rates above these levels between March 2023 and September 2024, when it was doing its utmost to curb inflation, and also between May 2006 and August 2007, when it was combating an overheating economy.”“A couple of years ago, higher interest rates did not curb the rise in gold prices, whilst before the financial crisis, the price remained more or less flat throughout that period,” Kuptsikevich noted. “Judging by stock market cycles, the situation bears a closer resemblance to what we saw two decades ago. There is also a third historical example: the period from 1994 to 2001, when gold was under pressure for most of the time whilst the Fed rate exceeded 5%. However, this is not a representative example, as at that time the US did not have a budget deficit large enough to require the creation of a massive government bond market.”At the time of writing, spot gold last traded at $4,284.97 per ounce for a loss of 2.17% on the week but a gain of 0.26% on the day.See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.

Gold (XAU/USD) reverses earlier intraday gains on Friday, failing to capitalize on a modest pullback in the US Dollar as growing expectations that the Federal Reserve (Fed) may raise interest rates again weigh on the non-yielding metal.

Heraeus analysts predict China's 2026 gold imports could reach 1,700 tonnes, doubling last year's total, while silver prices face a critical test near $60/oz amid a strong U.S. dollar an

Gold rises, silver falls below $61 as oil rebounds

Gold has recovered towards $4,200, but UBS’s December forecast of $4,600 still requires a gain of almost 10% from current levels

(Kitco News) - By almost every traditional correlation, gold should be substantially lower than it is today – and the fact that it isn’t is telling us something loud and clear. The Federal Reserve is tightening monetary policy, the U.S. dollar is strengthening and the 10-year Treasury yield has surged to around 5.2%, its highest level in 20 years.World Gold Council modeling suggests that, all else being equal, every 25-basis-point increase in the U.S. 10-year Treasury yield translates into roughly a 1.75% decline in gold. With yields surging higher, gold prices should be well below $4,000 an ounce.Instead, gold is holding around $4,300. This resilience underscores just how dramatically the precious metal has diverged from its traditional relationship with interest rates.Of course, gold is not immune to higher yields. Prices are down more than 2% this week and have fallen sharply from their recent highs. Rising real yields increase the opportunity cost of holding a non-yielding asset, while a stronger U.S. dollar creates another significant headwind.But considering the magnitude of these pressures, gold's losses remain remarkably contained.Investors are no longer looking at gold simply through the lens of interest rates. Central bank demand remains an important pillar of the market, while investment demand through gold-backed exchange-traded funds remains relatively resilient.Despite higher opportunity costs, Gold remains an important portfolio diversifier as investors confront persistent inflation, geopolitical uncertainty, and growing concerns surrounding government finances.Perhaps most importantly, a 5% Treasury yield means something very different today than it did the last time yields were at these levels.U.S. government debt has climbed above $40 trillion. Every percentage point increase in the government's average borrowing cost would eventually represent roughly $400 billion in additional annual interest expenses if applied across the entire debt stock.That creates an unusual dynamic.Higher yields increase gold's opportunity cost, but the forces driving yields higher — persistent inflation, expanding government debt and concerns about long-term fiscal sustainability — can simultaneously strengthen gold's investment case.Something eventually has to give.Either economic growth weakens enough to pull yields lower and reduce expectations for further Federal Reserve tightening, or rates remain elevated and increasingly expose the vulnerabilities created by America's enormous debt burden.Gold could certainly fall further if yields continue climbing and the dollar strengthens. But the more important story isn't that gold has fallen from its highs..The old relationship says gold should be substantially weaker.The fact that it isn't may tell us more about the changing nature of the gold market than any interest rate forecast can.See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.

Societe Generale analysts note Gold has failed to sustain gains above its 200-day moving average, reinforcing downward momentum. A short-term pullback is underway, with key resistance at the recent pivot high near $4,315.

Vingt mois seulement après le lancement des travaux de construction, Montage Gold franchit une étape décisive dans le dé... - KOACI l'Info au Coeur de l'Afrique

Le cours de l'or baisse jeudi aprèsdéjà trois séances de recul, pénalisé par laremontée des taux longs. - 24/09/2026 14:20

VIDÉO - Ce jeudi 24 septembre, la poursuite des achats massifs d'or par la Chine, a été abordée par Laurent Roussel, gérant actions chez Ixios AM, dans l'émission Good Morning Market sur BFM Business. Retrouvez l'émission du lundi au vendredi et réécoutez la en podcast.

Investing.com - Les cours de l’or ont légèrement progressé vendredi, mais restent en passe d’enregistrer un recul hebdomadaire, pénalisés par la vigueur du dollar américain et les anticipations de nouvelles hausses de taux de la Réserve fédérale visant à maîtriser l’inflation. À 10h59, l’or au comptant avait progressé de 0,5% à 4.293,56$ l’once, tandis que les contrats à terme sur l’or gagnaient 0,7% à 4.329,97$ l’once.

(Kitco News) - The gold market continues to struggle as bond yields across the curve push to their highest levels in 20 years, and one market strategist is warning investors that the precious metal has room to fall further.In his latest precious metals note, Fawad Razaqzada, Market Analyst at FOREX.com, said it could be difficult for precious metals to rally as elevated oil prices drive inflation pressures higher, fueling market expectations that the Federal Reserve will have to raise interest rates beyond current projections.According to the CME FedWatch Tool, markets see a 56% chance of a 50-basis-point rate hike in December. These expectations have pushed U.S. 10-year Treasury yields to 5.15%.“One of the main reasons why gold and other low- and zero-yielding assets have come under pressure is due to the fact bond markets are slumping. We have seen the US 10-year yields soar above 5.0% and 30-year yields are testing the 2007 highs,” he said. “Gold typically goes up when yields go down as opportunity cost of holding the zero-yielding asset decreases. And when yields rise, gold typically heads lower for the same reason.”Adding to the bearish fundamental outlook, Razaqzada said gold also faces growing technical headwinds as traders who went long during August’s rally are now stuck.“Some of traders will have their stops resting below recent lows near $4235. That’s precisely where I think gold is heading to next,” he said. “Gold has been effectively in a larger consolidation/bearish trend since peaked back in January. The series of lower highs and lower lows have not yet been violated to suggest the trend has turned bullish again. Thus, the bigger risk is that we could see further long side liquidation, perhaps much larger than we so far have. If gold continues to head lower from current levels, and goes on to eventually break below support at $4235, then that could pave the way for a continuation towards $4,100 initially, ahead of $4,000 next.”Although Razaqzada sees growing downside risks, he also noted that market sentiment is extremely fluid and can quickly change.“If investors lose faith in the Fed and its ability to control inflation or yields, then the dollar debasement trade could resurface and that could be positive for gold, silver and bitcoin, as well as currencies of countries with better fiscal discipline,” he said. “On the upside, key resistance is now seen around $4,300-$4325 area, followed by $4,400. As a minimum, I’d like to see gold break above the $4,400 level on a closing basis before I can drop my bearish gold forecast.”See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.

(Kitco News) - By almost every traditional correlation, gold should be substantially lower than it is today – and the fact that it isn’t is telling us something loud and clear. The Federal Reserve is tightening monetary policy, the U.S. dollar is strengthening and the 10-year Treasury yield has surged to around 5.2%, its highest level in 20 years.World Gold Council modeling suggests that, all else being equal, every 25-basis-point increase in the U.S. 10-year Treasury yield translates into roughly a 1.75% decline in gold. With yields surging higher, gold prices should be well below $4,000 an ounce.Instead, gold is holding around $4,300. This resilience underscores just how dramatically the precious metal has diverged from its traditional relationship with interest rates.Of course, gold is not immune to higher yields. Prices are down more than 2% this week and have fallen sharply from their recent highs. Rising real yields increase the opportunity cost of holding a non-yielding asset, while a stronger U.S. dollar creates another significant headwind.But considering the magnitude of these pressures, gold's losses remain remarkably contained.Investors are no longer looking at gold simply through the lens of interest rates. Central bank demand remains an important pillar of the market, while investment demand through gold-backed exchange-traded funds remains relatively resilient.Despite higher opportunity costs, Gold remains an important portfolio diversifier as investors confront persistent inflation, geopolitical uncertainty, and growing concerns surrounding government finances.Perhaps most importantly, a 5% Treasury yield means something very different today than it did the last time yields were at these levels.U.S. government debt has climbed above $40 trillion. Every percentage point increase in the government's average borrowing cost would eventually represent roughly $400 billion in additional annual interest expenses if applied across the entire debt stock.That creates an unusual dynamic.Higher yields increase gold's opportunity cost, but the forces driving yields higher — persistent inflation, expanding government debt and concerns about long-term fiscal sustainability — can simultaneously strengthen gold's investment case.Something eventually has to give.Either economic growth weakens enough to pull yields lower and reduce expectations for further Federal Reserve tightening, or rates remain elevated and increasingly expose the vulnerabilities created by America's enormous debt burden.Gold could certainly fall further if yields continue climbing and the dollar strengthens. But the more important story isn't that gold has fallen from its highs..The old relationship says gold should be substantially weaker.The fact that it isn't may tell us more about the changing nature of the gold market than any interest rate forecast can.See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.