Gold rally shows early signs of cooling after sellers step in near $4,700
Gold price stalled near $4,700 after a strong rally from $4,300. Sellers have appeared, with immediate support at $4,465 and a possible test of $4,510.
Gold Market
Gold price stalled near $4,700 after a strong rally from $4,300. Sellers have appeared, with immediate support at $4,465 and a possible test of $4,510.
Gold has rallied 15% in August, supported by renewed ETF inflows, strong central bank buying, US rate expectations, Treasury buybacks and a weaker dollar.
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.
Gold prices climbed to a three-month high on Friday, extending gains for a third consecutive week as a softer US dollar and positive technical signals attracted investors.