Gold Price Hits Three-Month High Near $4,700 Ahead of U.S. Inflation Data
Gold has climbed to its highest level in more than three months, putting the psychologically important $4,700 level within reach as investors prepare for a critical U.S. inflation report.
Spot gold briefly reached $4,696.18 per ounce during early trading on August 25 before easing toward $4,647.
The move marks gold's highest price since mid-May and extends a rally driven by a weaker U.S. dollar, declining Treasury yields and renewed concerns about the long-term purchasing power of fiat currencies.
The market is now approaching an important test.
Gold has already broken above several technical resistance levels, but traders are waiting for U.S. Personal Consumption Expenditures inflation data and Federal Reserve Chair Kevin Warsh's Jackson Hole speech before deciding whether the rally has enough momentum to break decisively above $4,700.
Gold Price Reaches $4,696
The latest gold market snapshot shows how quickly momentum has changed.
Key figures as of August 25 include:
- Intraday gold high: $4,696.18 per ounce
- Highest level since: mid-May 2026
- Key resistance level: approximately $4,700
- China net gold imports through Hong Kong: up around 11% in July
- Silver price: approximately $68.86 per ounce
- Platinum price: approximately $1,854
- Palladium price: approximately $1,332
Gold's move toward $4,700 follows several sessions of strong buying.
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