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Emirates News Agency reported that gold edged higher in early Monday trading, building on recent volatility as investors weighed prospects for US interest rates and developments in the Middle East. Spot gold rose 0.65 percent to $4,069.22 per ounce by midday according to Trading Economics data, recovering from losses in the previous session. The gain coincided with a softer dollar that typically supports bullion prices while oil eased after President Donald Trump indicated peace talks with Iran would resume. Markets were also pricing in roughly a 68 percent chance of a 25 basis point Federal Reserve rate hike in September, a factor that limited larger gains in the metal.
A Reuters assessment found gold had erased earlier losses to post gains of nearly 2 percent in related trading sessions last week after the Federal Reserve held benchmark rates steady. The US central bank’s decision sent Treasury yields lower, providing additional tailwinds for the precious metal. Trading Economics historical figures place the all-time high for gold at $5,608.35 reached in January 2026, underscoring the commodity’s elevated levels even after recent pullbacks. Over the past month gold prices have fallen around 2.3 percent but remain more than 20 percent higher than a year ago.
The Emirates News Agency coverage noted parallel movements in other precious metals, with silver advancing alongside gold amid broad sector strength. Palladium and platinum also posted modest gains in Monday trading according to the same reports. These shifts reflect investor efforts to balance safe-haven allocations while monitoring inflation data and geopolitical signals that could influence Federal Reserve policy in coming months.
Analysts at Goldman Sachs adjusted their end-2026 gold forecast downward to $4,900 per ounce from a prior $5,400 target, a revision cited in multiple market updates this year. The projection accounts for expected monetary policy normalization even as geopolitical risks persist in various regions. Trading Economics global macro models forecast gold trading at $4,103.88 per ounce by the end of the current quarter before rising further to $4,420.99 within 12 months.
Bullion futures for August delivery held steady near $4,036 per ounce in Monday contracts according to data compiled by Barchart. The performance comes as the broader commodities complex navigates mixed signals from energy markets and currency fluctuations. Investors continue to track weekly economic indicators that could clarify the trajectory for both inflation and growth in the world’s largest economy.
