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The Qatar News Agency reported that gold prices rose 0.5 percent during the week to $4,627.57 per ounce on Thursday, citing data issued by Qatar National Bank. Spot gold had stood at $4,604.52 per ounce on Sunday at the start of the period. This modest weekly advance reflects ongoing interest in the precious metal amid global economic uncertainties.
According to the same QNB data referenced by the Qatar News Agency, spot silver increased 0.32 percent to $69.18 per ounce from $69.02 at the beginning of the week. In contrast, platinum experienced a 1.36 percent decline to $1,858.98 per ounce compared with $1,884.78 on Sunday. These movements illustrate the varied performance across precious metals markets in recent trading.
A Kuwait Times report published earlier in the week noted that gold had closed the prior period at $4,603 per ounce after a 5 percent gain, driven by weakness in the US dollar and safe-haven demand. Geopolitical risks in the Middle East and concerns over US fiscal sustainability have continued to support bullion prices. Central banks around the world purchased a record 288.9 tonnes of gold in the second quarter of 2026, World Gold Council figures show.
Qatar’s central bank has substantially expanded its gold reserves in recent years, with holdings reaching QAR 54.595 billion by the end of June 2026. The Qatar Central Bank reported an increase of QAR 10.099 billion in gold assets from the previous year. This buildup forms part of a broader strategy to diversify foreign exchange reserves that stood at $71.74 billion in the same month.
World Gold Council analysis from July 2026 indicated that gold prices were consolidating around the $4,000 to $4,500 range following earlier volatility that saw the metal trade above $5,000 per ounce in January. Analysts project potential for gold to reach between $4,750 and $5,500 per ounce under base-case scenarios through the remainder of the year. Factors such as inflation expectations and interest rate paths will likely influence future movements.
Investment demand for gold has shown resilience, with global exchange-traded funds recording net inflows of approximately $3 billion in July according to market participants cited in CNBC reports. Physical demand in the Middle East region remained steady even at elevated price levels. The combination of these elements has contributed to the positive performance observed in the Qatari market this week.
Qatar’s gold rates stood at approximately 16,791 Qatari riyals per ounce on August 27, reflecting the USD price and the fixed exchange rate, a Gold Rates Now compilation indicated. Local jewellers and investors monitor these fluctuations closely for both retail and portfolio purposes. The weekly data from Qatar National Bank provides a regular benchmark for market participants in the country.
