Gold futures broke through the $4,650 mark on the Comex exchange, according to a report from Финансы Mail published on Friday, August 21, 2026. The move extends a sharp upward run for the precious metal, which has now climbed to its highest level in three months.
The price surge follows a period of sustained gains, with gold on track to finish the week higher for the third consecutive week, as reported by Interfax. Earlier in the session, prices had already exceeded $4,600 per ounce for the first time since May, according to Forbes.ru. The latest push above $4,650 signals continued momentum in the market.
Trading data cited by БКС Экспресс shows that precious metals have moved back above their 200-day moving average, a technical level often watched by traders as a gauge of longer-term trend strength. This crossover suggests that recent buying pressure has shifted the market's direction, at least in the short term.
However, not all signals point to a one-way bet. The Moscow Times reported that gold has also seen some pullback after the recent rally, as investors moved to lock in profits. This indicates that while the trend is upward, volatility remains, and some market participants are choosing to cash out at current levels.
The combination of a three-month high, a third straight weekly gain, and the breach of the $4,650 level highlights a period of strong demand, but the profit-taking noted by The Moscow Times serves as a reminder that the rally may face resistance. Observers will be watching whether gold can hold above the $4,600 mark in the coming sessions or if the recent highs trigger further selling.
