Why did gold prices rise?

Gold prices rose due to bullish momentum and the FOMO (Fear of Missing Out) psychology. The acceleration of gold purchases by the Chinese central bank also contributed to the price increase.

How does the Fed's interest rate policy affect the gold market?

In a high-interest-rate environment, non-yielding assets like gold are relatively less attractive. Therefore, the direction of the Fed's interest rate policy can have a significant impact on the gold market.

Why is the Chinese central bank increasing its gold holdings?

The Chinese central bank is increasing its gold holdings to diversify its foreign exchange reserves, hedge against inflation risks, and recognize the value of gold as a safe-haven asset.

How does U.S. inflation data affect gold prices?

If U.S. inflation data is higher than expected, the likelihood of the Fed raising interest rates increases, which could put downward pressure on gold prices. Conversely, if inflation slows, gold prices could rise.

How are other precious metals performing?

Silver rose 3.1%, platinum rose 0.1%, and palladium rose 0.2%. The precious metals market as a whole is also seeing increased demand for risk-averse assets, similar to gold.

Bullish Momentum Drives Gold Prices to Nine-Week High

Published Aug 11, 2026 7:53 AM ・ Updated Aug 11, 2026 8:14 AM ・ 5 min read ・ Source: PR Times

Driven by bullish momentum and the fear of missing out (FOMO), gold spot prices rose to a nine-week high. Investors are awaiting U.S. inflation data to gauge the Federal Reserve's potential policy direction. The Chinese central bank has accelerated gold purchases, and the market is watching for potential Fed rate hikes.

Driven by bullish momentum and the fear of missing out (FOMO), gold spot prices rose on Monday (10th) to a nine-week high. Meanwhile, investors are awaiting inflation data to be released this week to gauge the Federal Reserve's (Fed) potential policy direction.

Gold spot prices rose 0.8%, trading at $4,376.56 per ounce, reaching the highest level since June 5 during trading. Spot prices surged 2.4% last week when the U.S. reported an unexpected decline in non-farm payrolls.

December-delivery gold futures closed 0.5% higher, trading at $4,419.70 per ounce.

StoneX Senior Market Strategist Haberkorn said, "The overall technical momentum for gold is currently very strong. Market trading remains cautious, with China continuing to buy gold, and this week's release of July's Consumer Price Index (CPI) and Producer Price Index (PPI) also making investors a bit worried about missing out on the opportunity for gold to return above $4,500."

The People's Bank of China accelerated gold purchases in July, with official data showing that the Chinese central bank's gold reserves increased to the highest level since October 2023.

Investors are currently awaiting the U.S. CPI to be released on Wednesday and the PPI to be released on Thursday. Reuters' survey of economists expects the July CPI year-on-year rate to fall from June's 3.5% to 3.4%.

American Gold Exchange market analyst Jim Wyckoff said, "The CPI data will be quite important. Inflation is showing some signs of cooling, and the market expects this data will not show overheating inflation, which will support gold's short-term range-bound but stronger trend."

According to the CME FedWatch tool, traders currently expect a 52% chance of the Fed raising rates in September and an 81% chance in December.

Since gold itself does not yield income, it is typically less attractive in a high-interest-rate environment.

On the other hand, Iran stated that it is nearing a final agreement with Oman to define new shipping routes between the two in the Strait of Hormuz, but Iran once again emphasized that the U.S. must meet other conditions before the Strait of Hormuz will reopen.

Other Precious Metals Trading

Silver spot prices rose 3.1%, trading at $65.50 per ounce.

Platinum spot prices rose 0.1%, trading at $1,746.50 per ounce.

Palladium spot prices rose 0.2%, trading at $1,380.17 per ounce.

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Source: PR Times
Category: 其他
Organizations: StoneX / American Gold Exchange

Bullish Momentum Drives Gold Prices to Nine-Week High

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