Gold Price Hits 15-Week High As Late-Summer Rally Extends

Aug 24, 2026 10:03 PM - 2 hours ago 6

Topline

The value of golden roseate to a 15-week precocious early Monday, arsenic analysts in installments a Treasury Department determination to ramp up buybacks of long-dated authorities indebtedness for a sustained late-summer rally successful the precious metal’s price.

Gold reached a 15-week precocious connected Monday. (Photo by Alexander Manzyuk/Anadolu via Getty Images)

Anadolu via Getty Images

Key Facts

Gold futures roseate much than 1% connected Monday greeting to an intraday precocious of $4,738.50, while spot golden roseate astir 1.5% to a precocious of $4,679, some of which are the highest levels since mid-May.

Gold has rallied aft a mostly level fewer months, pinch past week becoming the precious metal’s 3rd consecutive week of a value increase.

Analysts person credited past week’s Treasury Department announcement that it would ramp up buybacks of long-dated authorities debt, which pushed gold’s value upward by astir 5% past week.

Analysts astatine Saxo Bank connected Monday said gold’s caller value rally has attracted “fresh method and momentum-driven demand.”

ActivTrades elder expert Ricardo Evangelista told Reuters gold’s value has consolidated supra $4,600 pinch imaginable for early gains, though further gains will “depend to a ample grade connected the U.S. dollar remaining nether unit and Treasury yields stabilizing astatine existent levels aliases declining further.”

tangent

The value of metallic hardly budged connected Monday, though the metallic is still hovering astir its highest value successful astir 2 months. Silver futures were down astir 0.3% arsenic of Monday morning, while spot metallic was down astir 0.1%, some astir a value of $69. Silver cracked $70 for the first clip since June precocious past week.

what to watch for

Analysts person suggested prices could beryllium swayed by important economical indicators later this week. The individual depletion expenditures value scale for July, a cardinal measurement of ostentation that is influential for Federal Reserve policymaking, is owed to beryllium released connected Wednesday. Analysts person said gold, which is viewed arsenic a safe-haven asset, could emergence successful value if inflation increases. Fed chair Kevin Warsh is besides expected to speak astatine the Jackson Hole Symposium connected Friday, which could supply an denotation of the Fed’s scheme for liking rates. CME Group’s FedWatch tool suggests the Fed will raise liking rates later this year, showing a 73.6% chance of a complaint hike by the clip of the cardinal bank’s December meeting. Higher liking rates typically depress metals prices.

key background

Gold and metallic roseate to historical highs earlier this year, pinch golden peaking astir $5,600 and metallic hitting an all-time precocious of $121. The value rally was fueled by converging factors including national liking complaint cuts, President Donald Trump’s tariffs, world tensions and expanding request for metals from booming technological industries. The highs did not last, though, arsenic metals prices collapsed successful precocious January soon aft Trump announced Warsh, who astatine the clip was considered improbable to trim rates, arsenic his prime to lead the Fed. The prices of golden and metallic mostly declined passim the Iran war, arsenic rising lipid prices put downward unit connected metals. Metals prices were mostly stagnant passim the summer, pinch golden languishing betwixt astir $4,000 and $4,200.