Gold price hits fresh high since mid-May above $4,650
Gold rose above $4,650 on Monday, its highest since mid-May. Lower US bond yields and a softer dollar, as expectations for a Fed rate hike fade, underpin the move.
Gold Market
Gold rose above $4,650 on Monday, its highest since mid-May. Lower US bond yields and a softer dollar, as expectations for a Fed rate hike fade, underpin the move.
Gold rose for a fourth consecutive session on MCX, gaining Rs 8,200 per 10g, while silver snapped a three-day rally, falling Rs 1,800/kg. Markets await US inflation data and a speech by Fed Chair Kevin Warsh.
Gold prices extended gains to a three-month high above $4,636 as investors focused on upcoming US inflation data and Federal Reserve Chair Kevin Warsh's speech at Jackson Hole.
MCX gold extended its rally for a fifth consecutive week, with August gains reaching 13.3% as a declining US dollar and reduced expectations of a Federal Reserve rate hike supported demand.
Gold prices have climbed 16–17% from their June 2026 lows, supported by central bank demand, improving ETF inflows, and a sharp sell-off in US long-term bonds. Experts weigh in on the outlook.
Gold rose 5% to nearly $4,603, its third straight weekly gain. A weaker US dollar and Treasury buybacks supported the rally, though the World Gold Council expects near-term prices to stay rangebound.
Goldman Sachs now sees gold potentially exceeding its $4,900 year-end forecast, driven by rising call-option activity, Western investor interest and sustained central bank buying.
Spot gold rose 0.5% to $4,540.18 on Friday and has gained 3.6% this week, helped by a softer dollar and Treasury buyback plans.
Gold rose to $4,544 during Asian trading on Friday, its highest since early June, supported by renewed US dollar selling and expectations that the Federal Reserve may hold off on rate hikes. However, geopolitical tensions and higher oil prices kept gains in check.