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2026-08-23T20:17:33.000Z

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Gold surpasses $4,600 ahead of Monday

Gold prices are poised to continue rising amid ongoing supporting factors, with the price of an ounce surpassing $4,600 after gains of over 5% last week. This increase is driven by renewed geopolitical tensions in the Middle East, escalating trade conflicts between the United States and Canada, and rising concerns over U.S. debt and monetary policy in America. Most analysts predict an upward trend to persist throughout the week, with the possibility of reaching around $4,700 if momentum continues, though there are worries about profit-taking at higher levels. Additionally, demand from central banks is expected to bolster the market, supported by ongoing political and economic uncertainties that favor a rise in the precious metal. Meanwhile, markets are awaiting key economic data that could influence the trajectory of interest rates and the dollar.

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