June — The Slide
Gold started June around $4,005/oz, but spent most of the month drifting lower. It dipped near $3,940 — its softest point since late last year. Why? Strong US dollar, rising bond yields, and expectations that interest rates would stay high longer made gold less attractive. Investors pulled money out — gold ETFs saw steady outflows through the month.
July — Holding Steady
July was quiet. Gold moved sideways, ending the month almost exactly where it began — near $4,027/oz. It tested the $4,000 mark several times but held firm. A small but important shift: ETF outflows stopped and turned into inflows — the first sign investors were coming back. Central banks kept buying steadily behind the scenes.
August — Strong Rebound!
Then in early August, gold woke up and rallied fast — climbing roughly +8% in just over a week and hitting a 2-month high near $4,373/oz. What changed?
US jobs data came in weak → investors started betting on lower interest rates sooner
Central banks kept buying — China added another 20 tons, its 21st straight month of purchases
Middle East tensions eased slightly → but gold still shone as a safe choice
Weaker dollar + falling yields → gold became much more attractive again
Key Takeaways
June–July: Gold rested and consolidated near support — testing patience
🔹 August: Clear bounce — driven by rate hopes + central bank buying
🔹 Bottom line: Gold dipped, held the line, and now is climbing back. The trend is turning positive — but watch US inflation data coming soon; hot numbers could slow things down!
Do you see gold hitting new highs this year, or do you think it will trade sideways? Share your thoughts! 👇
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