Gold Price Stays Near Three-Month High as Oil Falls and Treasury Yields Drop

TLDR

• Gold is trading near a three-month high at around $4,660 an ounce after gaining more than 7% in the past week
• Falling oil prices and lower US Treasury yields are reducing inflation pressure, supporting gold’s price
• Iran and Oman held talks on a temporary maritime corridor to reopen the Strait of Hormuz
• Fed Chair Kevin Warsh’s speech at Jackson Hole on Friday is being closely watched for rate policy clues
• PCE inflation data due Wednesday will give traders another read on the US economy

Gold prices dipped slightly on Wednesday but stayed close to a three-month high, supported by falling oil prices and lower Treasury yields that have eased inflation concerns.

Gold spot traded around $4,660 an ounce, while gold futures edged up to $4,699. Silver rose 0.7% to $69.05, and platinum gained 0.3%.

The metal has gained more than 7% over the past week, a run driven partly by the US Treasury’s move to ramp up buybacks of long-dated government debt.

That action revived what traders call the “debasement trade,” where investors buy gold to protect against government deficits and currency weakness. It helped fuel gold’s record-breaking rally in 2025 and is back in focus now.

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