‎Gold prices rise above $4,400 per ounce

‎<p ><img src="https://argaamplus.s3.amazonaws.com/4d3237e0-8108-415c-8c4f-359ab9bd264b.png"></p> <p class="ckeCaption" >Gold prices climb above $4,400/oz to a more than two-month high as investors await US inflation data and reassess the Fed’s rate outlook</p> <hr> <p >Gold prices rose for a third consecutive session in Tuesday’s trading, reaching their highest levels in more than two months, as investors awaited US inflation data for further clues on the outlook for interest rates.</p> <p ></p> <p >Meanwhile, the US Dollar Index, which measures the performance of the US currency against a basket of six major currencies, was broadly stable at 99.81 points.</p> <p ></p> <p >Tony Sycamore, a market analyst at IG, said the rally was driven by a combination of investor buying amid fears of missing out following the previous decline below $4,000, short-covering, and renewed safe-haven inflows. He expects gold prices to reach $5,000 per ounce in the medium term, Reuters reported.</p> <p ></p> <p >Markets are awaiting the release of the US Consumer Price Index report on Wednesday, with annual inflation expected to slow to 3.4%. This follows weak July jobs data, which prompted investors to scale back their expectations of a Federal Reserve rate hike next month.</p> <p></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong>Changes in Prices of Selected Precious Metals </strong></p> </td> </tr> <tr > <td > <p ><strong>Metal</strong></p> </td> <td > <p align="center" ><strong>Price (USD/oz)</strong></p> </td> <td > <p align="center" ><strong>Change (USD)</strong></p> </td> <td > <p align="center" ><strong>Change (%)</strong></p> </td> </tr> <tr > <td > <p ><strong><span >Gold (October delivery)</span></strong></p> </td> <td > <p align="center" >4,425.7</p> </td> <td > <p align="center" >+38.6</p> </td> <td > <p align="center" >+0.90%</p> </td> </tr> <tr > <td > <p ><strong><span >Gold (Spot)</span></strong></p> </td> <td > <p align="center" >4,399.32</p> </td> <td > <p align="center" >+8.37</p> </td> <td > <p align="center" >+0.20%</p> </td> </tr> <tr > <td > <p ><strong><span >Silver (September delivery)</span></strong></p> </td> <td > <p align="center" >65.63</p> </td> <td > <p align="center" >+0.35</p> </td> <td > <p align="center" >+0.55%</p> </td> </tr> <tr > <td > <p ><strong><span >Silver (Spot)</span></strong></p> </td> <td > <p align="center" >65.22</p> </td> <td > <p align="center" >(0.53)</p> </td> <td > <p align="center" >(0.80%)</p> </td> </tr> <tr > <td > <p ><strong><span >Platinum (Spot)</span></strong></p> </td> <td > <p align="center" >1,758.10</p> </td> <td > <p align="center" >+0.90</p> </td> <td > <p align="center" >—</p> </td> </tr> <tr > <td > <p ><strong><span >Palladium (Spot)</span></strong></p> </td> <td > <p align="center" >1,383.28</p> </td> <td > <p align="center" >(1.65)</p> </td> <td > <p align="center" >(0.10%)</p> </td> </tr> </tbody> </table> <p ><em class="ckeCaption">At 8:28 a.m. Makkah time.</em></p>

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Argaam - UAE News · Trade Publication

Published

11th August 2026

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argaam.com

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