- August 11, 2026
- Posted by: Tresmark
- Category:
Gold prices advanced for a third consecutive session on Tuesday, climbing to their highest level in more than two months as investors awaited key U.S. inflation figures for signals on the Federal Reserve’s interest-rate path.
Spot gold gained 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest level since June 5, while U.S. gold futures rose 1.7% to $4,492.60.
Analysts attributed the rally to renewed safe-haven demand, short-covering by speculative investors and fear of missing out among traders who had stayed on the sidelines during gold’s earlier decline toward $4,000. Some analysts expect the metal to eventually break higher and move toward the $5,000 mark.
Markets are now focused on the U.S. consumer price report due Wednesday and producer price data expected Thursday. The figures could influence expectations for Federal Reserve policy after weaker-than-expected July employment data reduced bets on a rate hike next month.
The Fed left interest rates unchanged at its July meeting, although three policymakers dissented in favor of an increase. Lower interest rates generally benefit gold because the metal does not generate interest income.
Meanwhile, persistent geopolitical tensions continued to support demand for safe-haven assets. U.S. President Donald Trump’s demands for compensation from Iran have added to tensions and could further complicate efforts to reach an agreement over reopening the Strait of Hormuz.
Among other precious metals, spot silver rose 0.9% to $66.30 an ounce, platinum gained 0.7% to $1,765.26, while palladium advanced 0.8% to $1,394.
