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Gold prices push towards $4,260
Gold prices declined significantly throughout 2026, falling by approximately 24% from their record highs of $5,595 per ounce set in January. Despite a 4.4% increase in recent trading sessions, reaching their highest levels since June 18, the precious metal remains weak due to diminished expectations of U.S. interest rate hikes, a weakening dollar, and a reduction in bets on monetary policy tightening. Additionally, gold-backed funds experienced outflows, and central bank demand reached its lowest levels since 2022, with poor performance in the global market driven by a decline in actual demand, particularly in Asia.
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