Global Gold Reaches Its Highest Level Since Mid May

Global gold extended last week's rally in early trading on Monday, 24 August 2026 (2 Shahrivar 1405), reaching its highest level since mid May. Kitco, updated at 00:08 New York time the same day, showed a rate of 4,632.20 dollars an ounce. Trading Economics, in a live reading on 24 August, recorded the ounce at 4,641.17 dollars, up 0.73 percent, and Sahmino's own price board showed 4,634.72 dollars, up 0.59 percent, at 07:38 Tehran time.

The main driver cited is market concern over US fiscal sustainability after an unexpected expansion of the Treasury's long dated bond buyback programme, which has pushed yields and the dollar lower. The dollar index stood at 98.854 in the Trading Economics live reading, roughly unchanged on the day but down 2.64 percent over the month.

Markets are now waiting on US personal consumption expenditures inflation data and Federal Reserve Chair Kevin Warsh's Jackson Hole address. Neither had been released or delivered at the time of publication. The global ounce is the main reference for pricing gold and coins in the Tehran market.