Gold prices rise to over a three-month high as the US dollar weakens and policy uncertainty increases

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智通财经2026/08/24 07:36

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On Monday, spot gold is currently up 0.9%, trading near $4,645 per ounce. Earlier, it reached $4,660 per ounce, marking the highest level since mid-May. Last week, gold prices already rose by more than 5%. The US dollar weakened due to the US Treasury's plan to repurchase long-term bonds, making USD-denominated gold more attractive to investors holding other currencies.
Analysts point out that gold has started the week actively, returning to a buying-dominated trend, mainly influenced by the weaker dollar. Meanwhile, the market is also focusing on the economic pressures and policy uncertainties reflected in the rise in yields.
This week, market participants will pay close attention to the July Personal Consumption Expenditure Price Index and Federal Reserve Chair Walsh’s speech at the Jackson Hole Symposium. Analysts note that traders will listen closely for changes in policy tone and its alignment with recent bond market trends. If the speech tone is balanced with a cautious bias, leaving room for flexible policy, gold is likely to continue its upward momentum.
On the geopolitical front, the US is preparing to impose economic sanctions on Iran’s trade partners. Oil prices have fallen as investors took profits ahead of related announcements, but the safe-haven demand for gold remains supported.

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