Rising geopolitical tensions and a weakening US dollar push spot gold prices above $4,460.
On August 17, 2026, during the Asian trading session, COMEX gold experienced a volatile surge, briefly rising above $4,460 per ounce.
In the news, Iran stated that the United States will no longer be allowed to enter the Persian Gulf, Gulf of Oman, and the Strait of Hormuz; Trump declared the Strait of Hormuz will soon become U.S. territory, with geopolitical factors continuing to exert influence.
Zhongjin Wealth Futures noted that the U.S.-Iran conflict remains unresolved. On the dollar front, the U.S. dollar has shown sustained weakness lately; the fundamental cause lies in missteps by the United States in military, geopolitical, and financial spheres, leading to a decline in the dollar's safe-haven value. Together with expected pressure from mid-term elections, passive fiscal tightening, and the "U.S. debt becoming like U.K. debt" trend, the dollar may further weaken in the medium term, and its peak for the year has possibly already occurred. Overall, gold continues to have supportive factors in the macro environment, and it is expected that after the price adjustment, there will still be short-term upward momentum.
Editor: Zhu Henan
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ-IIFL Finance rallies to a two-month high, boosted by Blackstone deal
The “outlier” in the AI capital expenditure frenzy: Apple (AAPL.US) keeps spending flat, accounting for less than 5% of sales
Apple continues to stand out among major tech peers, largely avoiding the aggressive wave of capital expenditure associated with artificial intelligence (AI) infrastructure.
Youth Employment Declines for 48 Consecutive Months: Behind the Semiconductor Boom, Young South Koreans Are Being Left Behind by the Times
In South Korea, the unemployment rate in October fell to a three-year low of 2.5%. However, the number of employed people decreased by 50,000, youth employment has declined for 48 consecutive months, and domestic demand remains weak.
Crypto prices
More
