Gold prices averaged USD 4,419 per troy ounce in August, up 8.5% from July. On 31 August, the commodity traded at USD 4,437 per troy ounce, up 9.6% from 31 July.
Following five consecutive monthly losses, average gold prices rose sharply in August. Gains were driven by optimism over a potential Middle East diplomatic breakthrough, plus a weaker USD and renewed “debasement trade” concerns over U.S. debt and fiscal sustainability. Some of these gains were erased late in the month as a hawkish tone from Fed Chair Kevin Warsh and a fresh escalation in the Strait of Hormuz lifted expectations of a September rate hike.
This chart displays Gold (US$/toz) from 2024 to 2026.
Gold LBMA (prices in US$/toz, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gold LBMA | - | - | 2,474 | 2,661 | 2,857 | 3,286 | 3,458 | 4,155 | 4,861 | 4,515 | - | - |