ع
Gold prices showed little movement early on August 21 but were set to close the week up more than 3 percent, Reuters reported. Spot bullion traded near $4,514 per ounce after reaching its highest level since early June in the prior session. U.S. gold futures remained around $4,571, extending recent momentum in a market where the metal has now advanced for three straight weeks.
A declining dollar made the commodity less expensive for international buyers, a development that supported demand throughout the period, according to Reuters figures. Treasury Secretary Scott Bessent indicated on Thursday that the government could expand repurchases of longer-dated securities. The department had already announced plans to double buyback operations to at least $4 billion per transaction over the coming quarter, a step that contributed to easing yields.
Gold has risen around 11 percent so far this month after a largely stagnant summer, CNBC TV18 data shows. The metal has held above the $4,000 threshold since mid-July despite earlier volatility. This rebound follows what industry reports described as one of the sharper quarterly declines in recent memory during the second quarter of 2026.
Higher interest rates generally reduce the appeal of non-yielding assets such as gold, yet shifting expectations around Federal Reserve policy have altered the calculus, a CME FedWatch Tool assessment found. Markets assigned a 64 percent probability to rates remaining unchanged in September. Rising oil prices have reintroduced inflation concerns that could influence future rate decisions, according to separate analyst commentary.
Other precious metals followed a similar path, with silver, platinum and palladium all heading for weekly gains, Reuters data places the advances at 5 percent or more for silver in some measures. Platinum climbed to around $1,846 while palladium steadied near $1,333. The broader metals complex benefited from the same currency and yield dynamics that lifted gold.
Analyst Jim Wyckoff at American Gold Exchange attributed part of the recent price action to profit-taking after a sharp midweek surge. He noted that Federal Reserve minutes revealed several officials remained open to rate hikes if inflation persists. Despite such headwinds, gold has reclaimed safe-haven interest amid ongoing fiscal debates, including U.S. debt exceeding $40 trillion for the first time.
