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Emirates News Agency reported that gold prices firmed on Thursday as the US dollar and Treasury yields eased, allowing the metal to rebound from a near one-month low hit in the previous session. Spot gold rose 0.5 percent to $4,409.97 per ounce by 0219 GMT while US gold futures climbed 0.9 percent to $4,455.30. The development underscores how currency movements continue to drive precious metals trading in an environment shaped by shifting US interest rate expectations. Market data compiled by the agency placed the gains within a broader pattern of volatility seen throughout 2026.
A softer dollar typically makes gold more attractive to holders of other currencies, a dynamic noted across multiple trading sessions this year. Declining Treasury yields further reduced the opportunity cost of holding non-yielding assets such as bullion. Reuters coverage of comparable moves attributed part of the support to cooling inflation concerns that have tempered expectations for aggressive Federal Reserve rate hikes.[[1]](https://www.reuters.com/world/india/gold-gains-weaker-dollar-easing-inflation-concerns-2026-03-10/)
Spot silver rose 0.6 percent to around $65 per ounce in the same session, according to the Emirates News Agency update. The precious metals complex as a whole showed resilience even as oil prices edged lower with Brent crude futures falling to $95.20 per barrel. Such divergence highlights how specific drivers, including dollar weakness, can lift gold independently of energy market trends.
Central bank gold purchases have provided a structural floor for prices amid ongoing de-dollarization efforts, UBS analysts stated in a recent assessment. The bank projected that fiscal challenges facing the United States could push gold above $5,400 by next summer if the dollar remains under pressure. World Gold Council commentary from earlier in the year noted that a medium-term downtrend in the US dollar index is likely to resume and deliver additional support to bullion.[[2]](https://www.kitco.com/news/article/2026-08-27/gold-clear-beneficiary-de-dollarization-and-we-think-it-can-continue-climb)
Gold has experienced sharp swings in 2026, climbing above $5,000 an ounce in January before pulling back in subsequent months, Bloomberg figures show. The latest rebound arrives as investors weigh upcoming US jobs data that could clarify the Federal Reserve’s policy path. A separate Reuters report indicated that gold call option demand has risen sharply, creating potential for amplified price moves in either direction.[[3]](https://www.reuters.com/business/gold-steadies-heads-third-straight-weekly-gain-2026-08-21/)
Trading volumes remained elevated as participants positioned for further economic releases later in the week. The Emirates News Agency dispatch did not include direct commentary from market participants but noted the gains followed a period of consolidation. Continued central bank diversification into gold has become an important stabilizing force, according to industry participants cited in related coverage.
