Gold Reaches Highest Price In Three Months As Dollar Weakens

BreakingBusinessGold Reaches Highest Price In Three Months As Dollar WeakensByConor Murray,Forbes Staff. Murray is a Forbes news reporter covering entertainment trends.Follow AuthorAug 21, 2026, 12:10pm EDTToplinePrecious metals prices are finally rallying after a mostly stagnant summer, with gold hitting its highest price in three months on Friday and silver hitting its highest level in two months, which analysts are largely attributing to a weaker dollar and the Treasury Department’s announcement it would ramp up buybacks of longer-dated government debt.The price of gold hit a three-month high Friday. (Photo by Matt Hunt/NurPhoto via Getty Images)NurPhoto via Getty ImagesKey FactsGold futures hit their highest level since about mid-May on Friday, rising about 2% to reach a price of $4,661.70.Silver rose a similar amount, inching up about 2% to hit a price of $70.08, marking the first time the precious metal has crossed the $70 threshold since about mid-June.Both metals are ending this week about 5% higher, marking a price rally that follows a mostly stagnant summer in which their prices did not budge much.Ole S. Hansen, an analyst at Saxo Bank, posted on X Friday a softer dollar is one of the key drivers of commodity prices rising, as the dollar index is down very slightly Friday morning—about 0.02%—but is hovering around a three-month low.UBS Group AG chief strategist Bhanu Baweja also told Bloomberg the rise in metals prices is partially because of the Treasury Department’s announcement it would double buybacks of 10-to-30 year securities, calling the move “a very important signal for gold.” if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defe...