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Gold price update Saturday August 29 2026
Gold prices settled today, Saturday, August 29, 2026, in the local market, amid limited movements in global gold prices. Markets are closely watching developments in U.S. monetary policy and its impact on the precious metal. Gold movements are largely driven by U.S. interest rate trends, as inflation remains above the target level of 2%. Internationally, the price of an ounce increased slightly by 0.1%, reaching a high of $4,614. Local gold price movements are primarily influenced by the price of the ounce and the USD exchange rate against the Egyptian pound. Prices are approaching a key support level between $4,600 and $4,570, amid ongoing concerns regarding U.S. fiscal policies. Rising interest rates tend to diminish gold’s attractiveness, as it does not generate income, although it benefits from the decline in U.S. Treasury bond yields.
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