Overview

• Spot prices rose roughly 1.3%–1.5% to about $3,594–$3,596 per ounce with an intraday peak near $3,600, while December futures traded around $3,648–$3,653.
• Gold is up about 40%–44% in 2025, with market strategists noting it is on track for its strongest year since 1979.
• Central‑bank demand, including buying by the People’s Bank of China, provided additional support, with August reserve data due Sunday for further clues.
• Physical buying in major consumer markets such as China and India has softened as record prices discourage purchases.
• Retail interest remains visible through outlets like Costco, though typical dealer buyback discounts of about 5%–10% and capital‑gains taxes can limit realized gains for small investors.