Gold's 2026 Pattern: Soft Inflation Sparks Rally, Rate-Path Doubts Erase It

Gold fell 0.5% to $4,330.70 on August 14, 2026, a second straight decline after hitting a two-month peak near $4,400. The drop fits a recurring 2026 cycle: soft inflation prints ignite buying, but gains fade as investors question whether the data shifts the Fed's rate path. On August 13, spot gold had already fallen 1.2%. Reuters reported both sessions. Inflation data drives headlines; rate-path expectations drive the trend.