Global gold rises for fourth day to seven-week high near $4,265 an ounce

According to Reuters, published by Boursenews on Thursday, August 6, 2026 (15 Mordad 1405), spot gold rose 0.5 percent to $4,265.22 an ounce, its fourth straight day of gains and its highest level in seven weeks. US gold futures rose a similar amount to $4,324.60. The report attributed the rally mainly to a weaker US dollar index and falling Treasury yields amid optimism over reopening the Strait of Hormuz, which has eased pressure on oil prices and reduced the case for further Fed rate hikes; market-implied odds of a September rate hike fell to 55 percent from 67 percent. Tony Sycamore, a market analyst at IG, said a sustained break above the 200-day moving average could open the way to a stronger run toward $5,000. Among other precious metals, spot silver fell 0.1 percent to $62.02, platinum rose 1.2 percent to $1,755.18, and palladium rose 0.8 percent to $1,374.33. According to Sahmino's own data, domestic 18-karat gold also rose 0.33 percent to 186,220,000 rials as of 3:26 p.m. Tehran time on Thursday.