Gold prices rose to their strongest level in three months, according to reports from Russian financial media outlets on Monday, August 24, 2026. The move was attributed to a weaker US dollar and investor positioning ahead of fresh US inflation data.
Финансы Mail reported that gold reached its highest point in three months, with the price climbing above $4,700 per ounce, as confirmed by both Вестник Кавказа and Финам. The rally marked the third consecutive weekly gain for the precious metal, according to Интерфакс.
The dollar’s decline was a key driver behind gold’s advance, as a softer greenback makes the metal cheaper for holders of other currencies. Market participants are now turning their attention to upcoming US inflation figures, which could influence the Federal Reserve’s policy path and, in turn, gold’s trajectory.
Investing.com noted that the dollar was falling while gold was rising, framing the week ahead as a pivotal period for both assets. The reports suggest that traders are weighing the possibility of slower price growth in the US, which might prompt the Fed to ease monetary policy—a scenario typically supportive of gold, which pays no interest.
Gold’s move above $4,700 per ounce represents a notable milestone, though the reports do not specify the exact intraday high or the precise percentage gain. The three-month peak underscores renewed demand for the safe-haven asset amid currency market volatility.
What to watch next: the release of US inflation data later this week, which could either extend gold’s rally or trigger a pullback depending on the numbers.
