Gold holds firm at $4,636 as dollar stays weak

August 25, 2026 (MLN): Gold prices climbed to their highest level in over three months on Tuesday, buoyed by a weaker US dollar and as the US Treasury's bond buyback programme kept a lid on yields.

Currently, spot gold is up 0.72% to $4,636.08 an ounce as of [10:08 am] PST, according to data reported by Mettis Global, after touching high of $4,700 per ounce before retreating.

The rally extended to silver, whose spot price added 0.4% to $69.19 per ounce.

A softer dollar makes greenback-denominated gold cheaper for holders of other currencies, while lower Treasury yields reduce the opportunity cost of holding non-yielding bullion.

The dollar index has shed 0.8% this month, and although Treasury yields stayed elevated for much of August, the government's bond buyback plan has helped push them down 3 basis points over the same period, according to CNBC.

Market attention now turns to an upcoming address by US Fed Chair Warsh ahead of the Jackson Hole Symposium later this week, with investors watching for signals on the interest-rate outlook.

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