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Global Gold Prices Surge 2.4% to $4,175, Hitting a One-Month High
Global gold prices surged 2.4% to $4,175.53 per ounce, the highest level in one month, during Wednesday trading, supported by a weaker US dollar and falling oil prices. Spot gold rose for a third consecutive day, while US gold futures gained 2% to $4,235.30 per ounce. Investors are watching US employment data to assess the Federal Reserve's interest rate direction. Meanwhile, softer oil prices helped ease inflation concerns, leading the market to scale back expectations of a Fed rate hike at the September meeting. Other precious metals also advanced, with silver up 3.8% to $61.76 per ounce, platinum up 2.6% to $1,779.25 per ounce, and palladium up 2.6% to $1,389.15 per ounce.
Money & Banking·22dRead more ▾
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Gold holds above $4,000 as investors monitor Middle East diplomacy and Fed outlook
Gold prices advanced on Tuesday, remaining comfortably above the key $4,000-an-ounce threshold as markets evaluated renewed diplomatic efforts between the United States and Iran and their potential impact on energy prices, inflation and Federal Reserve policy. Spot gold climbed 1% to $4,049.47 an ounce, while gold futures also rose 1% to $4,054.35. Silver gained 2.6% to $57.87 an ounce and platinum added nearly 1% to $1,611.09. Investors are now looking ahead to next week's Federal Reserve meeting, where policymakers are widely expected to leave interest rates unchanged, with markets currently assigning a 64% probability to a September interest rate increase. Afdhal Rahman, Executive Director of Wealth Advisory at OCBC, noted that renewed tensions in the Gulf could keep oil prices, inflation expectations and the U.S. dollar volatile in the near term, leaving gold under pressure until expectations for tighter monetary policy begin to ease, although sustained central bank buying should continue to provide longer-term support.
Reuters·36dRead more ▾
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Precious metals slump tempers South African Rand carry outlook, says BNY
Weaker precious metals are undermining the terms of trade for South Africa and Peru, limiting upside for the South African Rand and Peruvian Sol even in a supportive carry backdrop, according to BNY's Geoff Yu.
FXStreet·63dRead more ▾
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Platinum ETF PPLT Down 18% as Gold-Platinum Ratio Hits 50-Year Extreme
The abrdn Platinum ETF Trust, trading as PPLT, is down nearly 18% year to date even as gold continues to set record highs, pushing the gold-to-platinum ratio to one of its widest levels in 50 years at roughly 2.5 times. PPLT is the largest physically-backed platinum vehicle on US exchanges, holding bars in JPMorgan vaults and tracking the spot price minus a 0.6% expense ratio, with shares around $15.37 after a 10-for-1 forward split in May 2026. The World Platinum Investment Council has flagged a fourth consecutive annual supply shortfall, with deficits projected through 2029, while South Africa supplies about 75% of global output. Gains on PPLT are taxed at the 28% federal collectibles rate rather than the long-term capital gains rate, a structural factor that alters after-tax returns compared to platinum miner equity funds. Analysts point to a strong US dollar and high interest rates as near-term headwinds, but Bank of America Securities has a 2026 platinum price target of $2,450 per ounce, assuming Federal Reserve rate cuts in the second half of the year.
Yahoo Finance·65dRead more ▾