August Gold News 2024

Gold prices remain relatively volatile this week, but a weaker US dollar is helping to keep gold above the historic $2,500 per ounce level.

Continuing it’s incredible year of record breaking, gold hit a new historic milestone Friday, breaching $2,500 per ounce spot price for the very first time.

Gold has tested record highs once again this week despite some choppy trading. A mixture of geopolitical and economic concerns is helping to support gold prices ahead of the key fourth quarter that could see further gains.

A brewing storm of market and geopolitical volatility continues to cause unusually high levels of price volatility for gold and silver. A stock market crash on Monday has for now stabilised but could be a sign of things to come.

Safe haven buying on fears over the escalating conflict in the Middle East have pushed gold and silver prices up once more and combined with renewed speculation on interest rates to give precious metals a strong recovery after last week’s sharp dip.