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Weaker Dollar propels Gold to three-week high

(24-Aug-26   16:06)

Gold prices rose above $4,700 an ounce on Monday, the highest in over three months, due to a weaker dollar and ongoing geopolitical uncertainty. Investors were looking ahead to July PCE inflation data and Fed Chair Kevin Warsh’s Jackson Hole speech for insights on US interest rates. Tensions in the Middle East and potential US sanctions on Iran boosted safe-haven demand. MCX October bullion futures increased by 0.6% to Rs 1,63,373 per 10 grams, reaching a high of Rs 1,63,965.