Gold climbs to a more than three-month high as investors eye US inflation data and a Fed speech
AI Market Summary
Spot gold rose 0.7% to a three-month high after last week's 5%+ gain, as markets position ahead of US inflation data and a Fed chair speech that could shift real-rate expectations. Upside commentary from Goldman Sachs and continued official-sector accumulation (Poland's July holdings rising to 20.6 million ounces) reinforce demand signals, supporting near-term gold sentiment and volatility.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.68%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Spot gold rose 0.7% to $4,636.34 an ounce, its highest level since May 15. Prices gained more than 5% last week. Goldman Sachs said gold could surpass its $4,900 year-end target. Poland's central bank lifted its gold holdings in July to 20.6 million ounces.
