---
title: "What pushed Gold Above $4,700 Ahead of Inflation Data?"
site: "Monex Precious Metals"
domain: "https://www.monex.com/"
type: "Post"
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last_updated: "August 24, 2026"
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---

# What pushed Gold Above $4,700 Ahead of Inflation Data?

“Gold prices climb above $4,700 a troy ounce as investors await the release of key U.S. [inflation](https://www.wsj.com/topics/subject/inflation) data and Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole symposium. In early European trading, New York gold futures rose 0.4% to $4,700.50 an ounce, their highest since mid-May. “The Treasury’s surprise ramp-up in buybacks of long-dated government debt revived concerns about a weaker dollar and pushed investors toward alternatives,” analysts at Saxo Bank say. Meanwhile, silver is down 0.8% to $69.01 an ounce, while platinum rises 0.6% to $1,906.50 an ounce.”