09:55 - 6.08.2026

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August 6, Fineko/abc.az. Gold prices advanced for a fourth consecutive trading session on Thursday, touching their highest level in seven weeks. The precious metal was buoyed by a weaker U.S. dollar, retreating Treasury yields, and lower oil prices amid diplomatic efforts in the Middle East.

Spot gold rose 1% to $4,285.84 per ounce, marking its highest price since June 18. U.S. gold futures similarly advanced 0.9% to $4,345.80 per ounce. Among other precious metals, spot silver inched up to $62.16 per ounce, platinum hit a June high of $1,764.10 per ounce, and palladium rose to $1,377.83 per ounce.

Market analysts attribute the rally to diminishing expectations of further interest rate hikes by the Federal Reserve and declining energy costs. Traders are now awaiting Friday's upcoming U.S. non-farm payrolls data for July to gauge the future trajectory of monetary policy.