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Times of India

Spot gold holds near $4,650/oz after 14% August rise as Jackson Hole looms

AI Market Summary
Gold is extending a strong August rebound, driven by falling US Treasury yields, a weaker dollar, and heightened fiscal-risk concerns as US government debt surpasses $40T. Large inflows into gold ETFs and ongoing central-bank buying suggest broad institutional support. Near-term positioning is sensitive to Jackson Hole guidance from Fed Chair Kevin Warsh and US core PCE inflation, which could influence rates, yields, and risk hedging demand.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.11%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Spot gold was last at $4,650/oz, up 14% in August, about 7% year-to-date and around 7% last week, after briefly touching $4,700/oz. The rally has been supported by falling U.S. Treasury yields and a softer dollar as investors focus on inflation risks and concerns about dollar debasement with U.S. government debt above $40 trillion and the fiscal deficit still high. Markets are watching the Jackson Hole symposium from August 27–29, with particular attention on Fed Chair Kevin Warsh’s speech on Friday.
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