ع
The Emirates News Agency reported gains in gold and other precious metals, with spot prices climbing amid investor shifts toward safe-haven assets in a volatile environment. Gold rose 1.22 percent to $4,394.29 an ounce, building on a recovery that followed a dip below $4,000 in June. Silver outperformed with a 2.33 percent gain to $66.71 an ounce while platinum and other metals registered similar upward movements.
A World Bank assessment projected the precious metals price index to rise by 42 percent in 2026 despite a retreat from earlier record highs.[[1]](https://blogs.worldbank.org/en/opendata/precious-metals-retreat-from-record-highs) Gold prices are forecast to increase about 37 percent for the year while silver is expected to surge 76 percent before moderating in 2027. The assessment noted that central bank buying continues to offset weaker jewelry demand and support overall market firmness.
Central banks globally bought 289 tonnes of gold in the second quarter of 2026 with full-year purchases projected between 700 and 900 tonnes nearly double the annual average before 2022 according to the World Gold Council.[[2]](https://www.straitstimes.com/business/companies-markets/why-gold-prices-could-keep-rising-despite-high-us-yields-and-interest-rates) The People’s Bank of China purchased more than 20 tonnes in August marking its 22nd straight month of net buying. Global investors added $18 billion to gold exchange-traded funds in August as concerns over US public debt exceeding $40 trillion encouraged allocations to the metal.
Geopolitical risks and market volatility have contributed significantly to gold’s performance this year a mid-year outlook from the World Gold Council stated.[[3]](https://www.gold.org/goldhub/research/gold-mid-year-outlook-2026) After reaching above $5,500 per ounce in January gold fell toward $4,000 in June before resuming its upward trajectory. The outlook indicated potential for prices to climb toward $4,500 an ounce if economic conditions deteriorate or interest-rate expectations reverse.
The London Bullion Market Association reported gold vault holdings at 9,464 tonnes valued at $1.2 trillion in June with silver stocks at 28,082 tonnes.[[4]](https://www.lbma.org.uk/articles/lbma-precious-metals-market-report-q2-2026) Mine output is expected to remain broadly stable while recycled gold stays supported by current price levels. Retail investment demand for bars coins and exchange-traded funds is forecast to remain firm helping to balance softer jewelry and industrial requirements.
