Gold Prices

Gold prices averaged USD 3,367 per troy ounce in August, up 0.8% from July. On 29 August, the commodity traded at USD 3,441 per troy ounce, up 4.4% from 31 July.

After a short-lived dip in July, gold prices rose again in August, marking the seventh increase in eight months. Even though the increase was softer than that seen during H1, at the end of August, prices reached a new record high, bolstered by expectations of U.S. monetary easing. Moreover, Trump’s clashes with the Fed, including a push to remove Governor Lisa Cook, have raised concerns over the Fed’s independence, fueling demand for safe-haven assets.