Gold prices hit three-month high amid US dollar weakness FAST-MOVING

gold prices spot gold US Federal Reserve safe-haven asset inflation data

Global gold prices have surged to a three-month high, with spot gold reaching approximately 4,656 dollars per ounce. This rally is driven by a weakening US dollar and increased interest in gold as a safe-haven asset amid geopolitical tensions, particularly involving potential new US sanctions against Iran.

Economic factors are also playing a significant role. The US Treasury's plan to increase long-dated government debt buybacks has impacted bond yields and the dollar. Investors are closely monitoring upcoming US inflation data (PCE) and the upcoming speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium for clues on future interest rate policies. Goldman Sachs has projected that gold could reach 4,900 dollars per ounce by the end of 2026.

Local markets are also seeing significant activity. In Egypt, 21-karat gold is trading near 6,600 EGP per gram. In Turkey, gram gold prices have climbed above 7,100 lira. Additionally, the Polish central bank reported an increase in its gold reserves to 20.6 million fine troy ounces by the end of July.

Entities

Egypt · Federal Reserve · Gold · Gold and Precious Metals Division · Goldman Sachs · Iran · J.P. Morgan · Kevin Warsh · US Federal Reserve · US Treasury · United States · Wells Fargo

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Goldman Sachs predicts gold prices will reach 4,900 dollars per ounce by the end of 2026. ch23.com · www.boursenews.ir · noandish.com
[● 6 SOURCES] Geopolitical tensions between the US and Iran, including potential new sanctions, are contributing to gold's safe-haven appeal. bitcoinethereumnews.com · www.sadanews.ps · www.bursatv.com.tr · www.gazetepencere.com · www.haberaktuel.com · +1 more
[● 3 SOURCES] In Turkey, gram gold prices have risen to approximately 7,172 lira. www.bolutakip.com · www.urfastar.com · www.gazetebirlik.com
[● 6 SOURCES] Market participants are awaiting upcoming economic data and a speech by Fed Chair Kevin Warsh at the Jackson Hole symposium. ch23.com · www.sadanews.ps · www.ekoturk.com · www.sozcu.com.tr · www.gazetepencere.com · +1 more
[● 2 SOURCES] The Polish central bank increased its gold reserves to 20.6 million fine troy ounces by the end of July. ch23.com · www.sadanews.ps
[● 6 SOURCES] The US Treasury announced plans to increase buyback operations for long-dated government debt, impacting bond yields and the dollar. ch23.com · www.bursatv.com.tr · www.sozcu.com.tr · www.gazetepencere.com · www.haberaktuel.com · +1 more
[DISPUTED] In Egypt, 21-karat gold is trading at approximately 6,600 EGP per gram. aqarlight.com · www.almashhad.news
[DISPUTED] Gold spot prices reached approximately 4,656 dollars per ounce, marking a three-month high. www.bolutakip.com · www.bursatv.com.tr · www.sozcu.com.tr · www.gazetepencere.com · www.haberaktuel.com · +1 more