Gold Prices Rise
Date:2026-08-24View:5Tags:Stainless steel pipe,ERW steel pipe,Sprial steel pipe
As of August 24, 2026, gold prices performed as follows:
International Gold Prices: Spot gold briefly surpassed $4,650/ounce during the day, while New York gold futures even broke through $4,700/ounce. Since August, international gold prices have risen by over 13%.
Main Reasons for the Current Gold Price Surge
This rapid rise in gold prices is the result of multiple factors:
US Treasury Policy Adjustment as the Direct "Trigger": On August 19, the US Treasury announced a significant increase in the scale of long-term Treasury bond repurchases. This move led to a simultaneous decline in long-term US Treasury yields and the US dollar index. Since gold itself does not generate interest, its attractiveness relatively increased, attracting capital inflows and triggering a price surge.
Cooling Expectations of a Fed Rate Hike: Recent US economic data, such as employment and retail sales, were weaker than expected, and inflation data was also relatively moderate. This cooled market expectations for a Fed rate hike, directly benefiting gold prices and leading to an upward breakout.
Global central bank gold purchases provide long-term support: Central bank gold buying is a long-term strategy, unaffected by short-term price fluctuations, providing a solid bottom support for gold prices. In the second quarter of 2026, global central bank net gold purchases increased by 62% year-on-year, setting a new historical record. The People's Bank of China also increased its gold holdings for the 21st consecutive month as of the end of July.
