Gold extended its winning streak to five consecutive sessions in late August 2026, posting a weekly gain of roughly 5% to 7% with prices settling in the $4,650 to $4,700 per ounce range. Three forces drove the rally: a sharp drop in US Treasury yields, falling oil prices, and diplomatic progress between Iran and Oman on the Strait of Hormuz. Ten-year Treasury yields slipped to between 4.64% and 4.70%, while a weakening dollar made gold cheaper for international buyers. The US national debt has now climbed past $40 trillion, with the Treasury’s expanded buyback program aimed at managing the yield curve and maintaining liquidity in longer-dated markets. Oil prices also declined significantly, with WTI near $81 per barrel and Brent dropping below $89.
Source: Read the original article
