Gold is hovering around $4,650 per ounce, close to its highest level since mid-May, after gaining roughly 7% in five trading sessions. The metal was driven by a weaker dollar, expanded US Treasury bond buyback operations, and safe-haven demand. The Personal Consumption Expenditures price index, the Federal Reserve’s preferred inflation gauge, is due August 26; July’s Consumer Price Index came in at 3.4% year-over-year. Poland’s gold reserves grew to 640.2 metric tons by the end of July 2026, part of a broader trend of sovereign institutions diversifying away from dollar-denominated assets. Federal Reserve Chair Kevin Warsh is expected to speak at the Jackson Hole Symposium the same week, which could amplify volatility.
Source: Read the original article
