Gold prices today, Monday, August 24, 2026: 'Gold to stay hot through the end of the month'

On Monday, August 24, 2026, the price of gold stood at $4,673.40 per troy ounce, marking a 0.2% decrease from the previous Friday's closing figure. Throughout the morning, gold's value climbed to $4,712.60 per troy ounce at 8:30 a.m. ET. This is the first time the metal has surpassed the $4,600 mark since May 15 and even managed to surpass $4,700 earlier on the same day. Prior to May 13, gold had never breached the $4,700 threshold.

Financial expert Brian Sozzi published an insightful article, emphasizing the factors driving the recent surge in gold prices and predicting their continued rise through the end of the month, and possibly beyond. He attributes this upward trend to a combination of monetary policy interventions, heightened geopolitical tensions in the Middle East, and ongoing global inflation.

A significant trigger for the late-August surge was the U.S. Treasury's decision to double its long-term bond buyback program, boosting it to $4 billion per session. This move has led to a surge in short-covering and speculative buying in precious metals markets. Simultaneously, the seemingly endless conflict with Iran has further bolstered gold's reputation as the go-to global safe-haven asset.