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Gold Futures Surge 3.79% to $4,309.90 on August 5, Hitting 7-Week High

2026-08-05 20:37:13

XAU-2.15%

According to COMEX data, on August 5, gold futures (December contract) surged 3.79% to $4,309.90 per troy ounce, marking the highest level since June 18. The rally was driven by expectations of a Hormuz Strait reopening and easing geopolitical tensions in the Gulf region. Jamie Duta of Nemo Money noted that declining Treasury yields amid reduced inflation concerns have increased the appeal of gold as an asset class.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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