What will Gold (XAUUSD) hit Week of August 24 2026?
Gold prices have surged more than 5% over the past week to levels near $4,650–$4,730 per ounce, driven primarily by the U.S. Treasury’s decision to expand long-term bond buybacks, which lowered Treasury yields and pressured the dollar. This has reinforced safe-haven demand amid renewed geopolitical tensions with Iran, elevated oil prices, and continued central bank accumulation, including substantial purchases by China. Market-implied odds reflect trader focus on these dynamics alongside fading bets on near-term Federal Reserve rate hikes. Key near-term catalysts include the July Personal Consumption Expenditures release on Wednesday and Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium on Friday, both of which could shift rate expectations and influence near-term price action in XAUUSD.