Gold Prices Surge by 13% in August, Setting Stage for Volatile September

Gold prices surged in August 2026, rising by around 13% to end the month at $4,563 per ounce. According to the World Gold Council (WGC), this was gold's third-highest monthly return in the past 25 years.

The WGC attributed the rise in gold prices to strong inflows into gold ETFs, increased market momentum, a weaker US dollar, and changes in opportunity costs.

Gold-backed ETF investments were particularly strong, with $7.9 billion flowing into European markets, $7.8 billion into North America, and $2 billion into Asia.

The WGC noted that net managed fund positions on COMEX increased by approximately $13 billion during the same period, reflecting strong investor participation in the gold market.