- Gold futures opened at $4,436.40 per ounce, up 0.5% from the prior session, as markets assessed the risk of a short-lived Iran conflict reescalation.
- Goldman Sachs Research forecasts gold at $4,900 per ounce by the end of 2026, citing central-bank diversification away from foreign currencies as a multi-year demand driver.
- Canada’s trade surplus narrowed sharply in July as lower gold and energy exports pushed the US share of Canadian exports to 66.3%, the lowest level outside the pandemic period.
- Gold supply growth remains constrained by permitting and regulatory hurdles, increasing the strategic value of fully permitted mining projects.
Quotes
“Goldman Sachs Research now forecasts the metal will reach US$4,900 per troy ounce by the end of 2026”
“The driver its analysts point to is not speculative positioning but central banks steadily diversifying reserves away from foreign currencies”
“Canadian exports to the US decreased by 6.6% during the month”