03.09.2026 14:40
Gold recorded a strong rise in August after months of fluctuating movement. As expectations that the Fed would raise interest rates weakened, gold gained 10% per ounce, reaching $4,449, and posted its fastest monthly increase in the last 7 months. Silver, on the other hand, rose 15.4% to reach $66.5.
Following months of volatile movement in gold prices, a notable rise was seen in August. Weakening expectations that the US Federal Reserve (Fed) would raise interest rates, along with economic data from the US, gave renewed strength to precious metals.
Gold per ounce rose 10 percent in August, ending the month at the level of $4,449. Thus, gold recorded its fastest monthly gain in the last 7 months.
IT HAD STARTED THE YEAR QUICKLY
Gold made a strong start to 2026. The ounce price gained 12.4 percent in January and 8.5 percent in February.
However, with the start of the US/Israel-Iran war, the balance in the markets changed. While the rise in oil prices increased global inflation concerns, expectations that central banks would follow a more hawkish monetary policy strengthened.
The shift of safe-haven demand towards the dollar also created selling pressure on gold.
SHARP LOSSES CAME AFTER THE WAR
Gold per ounce lost 11.3 percent in March. The decline continued as 1 percent in April, 1.8 percent in May, and 11.7 percent in June. In July, gold recorded a limited rise of 0.9 percent.
GOLD'S DIRECTION CHANGED IN AUGUST
In August, developments supporting gold came one after another. The US Treasury increasing the size of its long-term bond buyback operations, the slowdown in inflation in the country, and developments in the labor market weakened the expectation that the Fed would raise interest rates.
Demand for gold strengthened again, also influenced by the relative decrease in geopolitical risks. Gold per ounce rose to $4,449 with a monthly increase of 10 percent.
SILVER ROSE FASTER THAN GOLD
The rise in precious metals was not limited to gold alone. The ounce price of silver increased by 15.4 percent in August, rising to $66.5.
Thus, while both gold and silver exhibited their strongest monthly performance in the last 7 months, silver surpassed gold in its rate of increase.