Gold Rises Toward 10-Week High

2026-08-12 12:50 By Agna Gabriel 1 min. read

Gold rose above $4,420 an ounce on Wednesday, approaching a 10-week high as investors weighed US inflation data, Federal Reserve policy expectations and developments surrounding the Strait of Hormuz.

US consumer prices rose broadly in line with forecasts in July, easing concerns over an imminent Fed rate hike.

Following last week’s weak jobs report, the softer inflation picture encouraged investors to reduce expectations for a September increase, supporting demand for gold.

Geopolitical uncertainty also remained a key driver, with Pakistan’s defense minister saying the US and Iran were “close to some sort of arrangement” to reopen Hormuz, while President Donald Trump claimed the US had “total control” of the waterway.

Meanwhile, central-bank buying continued to underpin gold demand.

China’s central bank added around 20 tonnes to its reserves in July, marking its 21st consecutive month of purchases.

Global central banks bought an estimated 289 tonnes in the second quarter.



News Stream
Gold Rises Toward 10-Week High
Gold rose above $4,420 an ounce on Wednesday, approaching a 10-week high as investors weighed US inflation data, Federal Reserve policy expectations and developments surrounding the Strait of Hormuz. US consumer prices rose broadly in line with forecasts in July, easing concerns over an imminent Fed rate hike. Following last week’s weak jobs report, the softer inflation picture encouraged investors to reduce expectations for a September increase, supporting demand for gold. Geopolitical uncertainty also remained a key driver, with Pakistan’s defense minister saying the US and Iran were “close to some sort of arrangement” to reopen Hormuz, while President Donald Trump claimed the US had “total control” of the waterway. Meanwhile, central-bank buying continued to underpin gold demand. China’s central bank added around 20 tonnes to its reserves in July, marking its 21st consecutive month of purchases. Global central banks bought an estimated 289 tonnes in the second quarter.
2026-08-12
Gold Rises Ahead of US CPI Report
Gold rose toward $4,400 an ounce on Wednesday, recouping losses from the previous session as investors prepared for key US inflation data that could provide fresh clues on the Federal Reserve’s policy outlook. Markets remain divided over whether the Fed will raise rates by 25 basis points in September after keeping them unchanged in July, with rising oil prices reinforcing a hawkish bias. Meanwhile, traders assessed the prospects of a US-Iran deal to reopen the Strait of Hormuz amid shifting signals. Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” over the strait, while reports indicated that talks between Iran and Oman have reached an advanced stage. Elsewhere, gold continued to draw support from investment demand and central bank purchases, particularly from China. China’s central bank added about 20 tons to its reserves in July after buying around 15 tons in June, marking the largest monthly increase since October 2023.
2026-08-12
Gold Pulls Back as Investors Take Profits
Gold slipped below $4,400 an ounce on Tuesday, giving up earlier gains as investors took profits following a strong rally and weighed the potential impact of surging oil prices on inflation and the interest rate outlook. Earlier in the session, the yellow metal climbed to a two-month high as Chinese institutional investors continued to build bullion positions as a hedge against volatility across other markets, while gold-backed exchange traded funds in China posted their longest run of inflows in months. China’s central bank also stepped up gold purchases last month, adding about 20 tons to its reserves in July after buying around 15 tons in June, marking the largest monthly increase since October 2023. Meanwhile, uncertainty remained over a potential US-Iran agreement to end the war and reopen the Strait of Hormuz. Investors also awaited key US inflation data this week for fresh indications on the Federal Reserve’s policy outlook.
2026-08-11