{
  "id": 1770484,
  "title": "Gold rises towards $4,400 as weaker dollar supports prices despite Middle East inflation concerns",
  "url": "https://urgent.news/2026/08/17/gold-rises-towards-4-400-as-weaker-dollar-supports-prices-despite",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T09:22:43.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/commodities/articles/gold-rises-towards-4-400-092243418.html"
  },
  "original_language": "en",
  "account": "Gold prices rose on Monday, hovering near $4,400 per ounce as the U.S. dollar weakened and economic indicators softened, while concerns about Middle East energy supplies added to inflation risks. At 01:04 ET (05:04 GMT), the price of gold (XAU/USD) increased by 0.5% to $4,399.44, and gold futures climbed 0.4% to $4,455.90. Silver (XAG/USD) gained 1.7% to $65.83, and platinum (XPT/USD) rose 1.8% to $1,749.15. The U.S. Dollar Index fell 0.2% to 99.49, making dollar-denominated precious metals relatively cheaper for buyers of other currencies. Over the past week, gold had gained almost 1%, aided by economic data that lessened worries about an imminent Federal Reserve interest rate hike. The U.S. consumer sentiment index declined for the first time in three months, and retail sales showed their biggest monthly decline in over a year, easing some pressure on the Fed to tighten monetary policy. This provided support for gold, as it generally becomes more attractive when borrowing costs are expected to decline since the metal does not generate interest income. ANZ analysts identified a strengthening inverse relationship between gold and U.S. Treasury yields, with higher borrowing costs putting more pressure on bullion. They expect gold's trajectory over the next year to unfold in three phases: initial pressure from persistent inflation and a non-expansionary Federal Reserve, followed by economic slowdown triggered by an energy shock, and eventual support as monetary policy becomes more accommodative. ANZ also forecasts worsening international relations will sustain central bank demand for gold as a diversification asset, predicting the metal could reach $5,200 per ounce by year-end. Investors will get more insight into the Federal Reserve's thinking on Wednesday when minutes from its July policy meeting are released. While softer U.S. economic data haven't ruled out renewed inflation, several vessels were attacked in the Strait of Hormuz last week, and the U.S. announced additional measures aimed at increasing economic pressure on Iran. Ships have continued to exit the strategically important waterway, with some reportedly turning off satellite transponders to reduce the likelihood of detection. Iran and Oman seem to be nearing an agreement on managing the Strait of Hormuz, though the U.S. is not part of those talks. The combination of shipping disruptions, geopolitical tensions, and tentative diplomatic progress continues to create uncertainty around global energy supplies. A potential increase in oil prices could heighten inflationary pressures and complicate the Fed's efforts to move toward looser monetary policy. Gold's climb above the key $4,000-an-ounce level has been bolstered by stronger investor interest and increased purchases by central banks, notably China. Last week, gold moved above its 100-day moving average for the first time since April and has remained near that technical level. ANZ reports that central banks purchased 244 tonnes of gold in the first quarter of 2026, the highest quarterly buying since the fourth quarter of 2024. China also stepped up its accumulation, buying 8 tonnes in April, marking its largest monthly addition since December 2024.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}