Gold prices hit 4,268.52 dollars per ounce on Thursday, their highest level in seven weeks, driven by a weaker dollar and expectations of Fed rate cuts. Chinese investors have returned strongly, with 1.2 billion dollars in net inflows over fourteen consecutive days in gold ETFs. Central banks purchased approximately 289 tonnes in Q2 2026, the strongest quarter since Q4 2024. Several analysts are now targeting a return to the symbolic 5,000 dollars per ounce level, roughly 20% above current prices. The next U.S. non-farm payrolls report could confirm or invalidate this upward momentum.
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