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macroAug 12, 2026, 1:05 PM

Gold Futures Surge Past $4,500 for First Time Since June

Gold futures climbed above $4,500 per ounce, a level not seen since early June, adding to a 14% rally since mid-July.

XAUUSD

Gold futures broke above $4,500 per ounce for the first time since June 5th. The move extends a rally that has now added over 14% since July 17th.

The breach of this key level underscores strong bullish momentum in the gold market, with traders anticipating further upside as the macroeconomic backdrop continues to favor the safe-haven asset.

Source: The Kobeissi Letter