{
  "id": 2521222,
  "title": "Gold prices rise for 3rd straight week, hit 3-month high. Can bullion reclaim $5,500 peak?",
  "url": "https://urgent.news/2026/08/22/gold-prices-rise-for-3rd-straight-week-hit-3-month-high-can-bullion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-22T06:44:47.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/commodities/news/gold-prices-rise-for-3rd-straight-week-hit-3-month-high-can-bullion-reclaim-5500-peak/articleshow/133419156.cms"
  },
  "original_language": "en",
  "account": "Gold prices climbed to a near three-month high on Friday, continuing their upward trend for the third consecutive week, as a weaker US dollar and the US Treasury's decision to boost bond buybacks bolstered demand for the precious metal. Spot gold increased by 2% to $4,603, marking a 5% weekly gain after previously reaching its highest level since May 29.\n\nThe rally was fueled by a softer US dollar and the US Treasury's efforts to maintain control over longer-term yields. The dollar was on track for a weekly decline, making dollar-priced commodities more affordable for holders of other currencies. In addition, the US Treasury announced it would double the size of buybacks of longer-dated Treasury securities to at least $4 billion per operation over the next quarter. Treasury Secretary Scott Bessent also hinted at the possibility of further increases in repurchases, which could help keep longer-term Treasury yields under control and support gold prices.\n\nInvestors are now pricing in a 67% chance that the Federal Reserve will maintain interest rates steady next month, while the probability of a rate hike stands at 33%, according to the CME FedWatch Tool. Although gold is generally viewed as a hedge against inflation, higher interest rates typically reduce its appeal due to its non-yielding nature.\n\nAnalysts from Jefferies and billionaire hedge fund manager John Paulson suggest that the recent pullback could present an opportunity for investors to gradually start accumulating gold, potentially signaling the beginning of a long-term bull run. Paulson argues that fiscal and monetary stimulus following the financial crisis will eventually weaken the US dollar, which has roughly quadrupled in price since then. He also believes that gold is becoming an increasingly attractive reserve currency, replacing fiat currencies, and that demand from central banks and private investors is continuing to grow. However, Paulson suggests that investors may benefit more from owning gold mining companies than bullion itself, particularly companies with large undeveloped reserves.",
  "summary": "Gold rose 5% this week to nearly $4,603, marking its third consecutive weekly gain, supported by a weaker US dollar, Treasury bond buybacks and expectations of stable Fed rates. Analysts see long-term potential amid central-bank demand and currency concerns, though the World Gold Council expects near-term prices to remain rangebound.",
  "key_points": [
    "Gold prices hit near three-month high at $4,603, up 5% weekly",
    "Softer US dollar and increased Treasury bond buybacks drove demand",
    "67% chance Fed will keep rates steady, 33% chance of rate hike"
  ],
  "editors_take": "A weaker US dollar and US Treasury's efforts to control yields are bolstering gold's appeal, potentially signaling a long-term bull run as investors seek a hedge and alternative reserve currency.",
  "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."
}