Gold price soars to new record

A summary of the most important gold news and analysis of the last week.

Gold price: $3,557.30 $XAUUSD ( 0.0% ) [View live gold price.]

Change from last week: $149.59 (4.39%)

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Gold news

• Gold price soars to new record [Mining]

"Gold scored a new high Tuesday as the prospect of US interest rate cuts and growing concerns over the Federal Reserve’s future lifted the appeal of precious metals."

• Why is the price of gold hitting record highs? [Al Jazeera]

"The price of gold has soared as investors seek out safe havens amid heightened economic uncertainty."

• Central Bank Gold Statistics: Central bank gold buying in July slows but remains firm [World Gold Council]

• Gold's rise in central bank reserves appears unstoppable [Reuters]

• Official gold reserves surpass US Treasury holdings for the first time in 30 years, but central banks are just warming up [Kitco]

• The persistent tailwinds for gold: central banks, geopolitical risk, and the economic situation in the United States [Funds Society]

🔮 Gold price forecasts

• Gold prices to average Q4 around $3,700 after breakout rally - Standard Chartered’s Suki Cooper [Kitco]

• Gold News: Rate cut odds and tariff tensions fuel $3,900 gold price prediction [FX Empire]

• $4,000 target in sight as gold’s breakout just beginning, says market strategist [Kitco]

• Gold could surge as high as $4,250 next year amid uncertainty over Fed: JPMorgan [Yahoo Finance]

• The price of gold could hit $5,000 if Trump keeps meddling with the Fed, Goldman Sachs says [Fortune]

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🌐 World gold news

Gold news from a global perspective.

🇦🇺 Australia

• Gold mining a $50bn business for Australia [Industry Queensland]

🇨🇳 China

• How much gold will be enough to diversify China's reserves? [Reuters]

• Zijin Gold International eyeing US$3b Hong Kong IPO, exceeding original goal [The Standard]

• China is prepping for something [TFTC]

"Here's a pretty startling chart out of China that I haven't seen talked about much; the amount of gold held "on warrant"."

🇮🇳 India

• Explained: Why the Reserve Bank of India is preferring gold over U.S. Treasuries in 2025 [Fortune India]

🇮🇶 Iraq

• Iraq holds 29th in global gold reserves [Shafaq News]

🇵🇱 Poland

• Poland wants gold to constitute 30% of reserves, central bank chief says [Reuters]

🇲🇦 Morocco

• Morocco breaks into Africa’s gold powerhouses with discovery of high-grade deposits [Business Insider Africa]

🇸🇬 Singapore

• UOB Asset Management launches new gold managed portfolio solution amid renewed demand for the metal [Yahoo Finance]

🇨🇭Switzerland

• Switzerland rejects U.S. gold relocation push [FX Leaders]

"Switzerland's trade association for gold refiners opposes relocating some of its operations to the US to assist with tariff negotiation."

• The Swiss and their gold Vrenelis, an enduring love affair [swissinfo]

🇦🇪 United Arab Emirates

• Consumer trends: Rising gold prices fail to deter UAE jewellery buyers [Khaleej Times]

🇬🇧 United Kingdom

 • London’s bullion market to trial digital gold (archive) [Financial Times]

"Pilot from miners’ group World Gold Council would allow holders to put the precious metal to profitable use."

🇻🇳 Vietnam

• Gold monopoly ends: Will prices fall to VND100 million/tael? [VietNamNet Global]

"Lifting gold bar monopoly, allowing import-export of raw gold to produce bars will increase supply, end the mindset of ‘buying gold at any cost’, narrow domestic-international price gaps, and cool down the market."

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• Tokenized gold hits record market cap of $2.57B [Cointribune]

• Bybit pushes gold tokenization through blockchain TON integration [Finance Magnates]

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice.

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