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Thursday, 6 August 2026

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PREMIUMGold Trades Near US$4,300 as Hormuz Progress Eases Rate-Hike Concerns

By Chee Liang CFA3 min read

Singapore, 6 August 2026 – Gold extended its strongest advance in six months, trading close to US$4,300 an ounce as signs of progress towards reopening the Strait of Hormuz eased pressure on energy markets and reduced expectations of a United States interest-rate increase.

Bullion climbed as much as 1.4% and briefly moved above US$4,300 before surrendering part of the advance to trade just below that level. The move followed a 4.1% surge in the previous session, gold’s largest one-day gain since 3 February.

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Author

  • Chee Liang CFA specializes in financial advice and global economic trends, delivering clear insights to help readers navigate markets, investments, and the shifting dynamics of the world economy.