{
  "id": 2280498,
  "title": "Gold steadies, heads for third straight weekly gain",
  "url": "https://urgent.news/2026/08/21/gold-steadies-heads-for-third-straight-weekly-gain",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T02:23:49.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/08/1515764/gold-steadies-heads-third-straight-weekly-gain"
  },
  "original_language": "en",
  "account": "Gold prices remained stable on Friday, but analysts are predicting a third consecutive weekly increase. This rise is attributed to a weaker US dollar and efforts by the US Treasury Department to keep longer-term yields in check. As of 0031 GMT, spot gold was trading at $4,514.23 per ounce, having reached its highest level since early June in the previous session. Prices showed a 3.2% increase over the week. US gold futures also stayed steady at $4,571.20.\n\nThe US dollar is expected to see a weekly decline, making dollar-priced commodities less expensive for holders of other currencies. US Treasury Secretary Scott Bessent hinted at the possibility of further increasing the government's repurchases of Treasuries. On Wednesday, the Treasury announced plans to double the size of buybacks on longer-dated securities over the next quarter, with each operation set to reach at least $4 billion.\n\nFederal Reserve officials expressed caution regarding how the Treasury Department's debt management changes could impact the central bank's monetary policy decisions. Meanwhile, the US unemployment claims fell last week, indicating a stable labor market despite a surprising drop in employment in July. This situation leaves the Fed with a choice to keep rates unchanged in September or to hike them, according to the CME FedWatch Tool. Inflation remains a concern, but gold is seen as a hedge against turmoil and inflation, which is offset by higher interest rates making it an unattractive non-yielding asset.\n\nOn the geopolitical front, the US has announced its toughest sanctions yet against Iran, a move Bessent believes will lessen the need for new major military operations. Among other metals, spot silver remained flat at $68.03 per ounce. Platinum rose 1.1% to $1,846.29, while palladium stayed steady at $1,333.11. All three metals were on track for weekly gains.",
  "summary": "NEW YORK: Gold held steady on Friday but was on track for a third straight weekly gain, buoyed by a weaker dollar and US Treasury Department efforts to hold down longer-term yields.",
  "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."
}