# Gold jumps 12% in a month, analysts see volatile path to record highs 2026-08-27T09:23:45+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Gold has risen over 12% in August, climbing back above $4,600 an ounce on Thursday after the US Treasury announced plans to expand buybacks of older long-term bonds. The move reignited concerns over dollar debasement and pushed investors towards hard assets. MCX gold October futures rose 0.28% to Rs 1,60,108 per 10 grams. Markets now await Federal Reserve chair remarks at the Jackson Hole symposium on Friday for cues on interest rates. The CME FedWatch Tool shows a 36% probability of a US rate hike in September. Analysts said gold's rally is supported by a softer dollar, renewed ETF inflows and physical demand from China. However, Kotak Securities' Kaynat Chainwala said a sustained move to $5,500 per ounce is not the base case yet, and the path is likely to be volatile. Geojit's Hareesh V noted that domestic gold prices have corrected against overseas prices amid expectations the government may cut the import duty from 15%. On the technical side, Choice Broking's Aamir Makda said gold's key resistance is at $4,895, a breakout from which could push prices towards $5,000-5,500. ## Indian Opinion Analysis Gold has gained more than 12% this month, pushed by the US Treasury bond buyback plan and a softer dollar. The $5,500/oz target some analysts cite is not the base case yet. For that, markets would need a clear signal of Federal Reserve easing, a sustained dollar decline, or fresh US fiscal stress. The key data point ahead is the Jackson Hole symposium on Friday, where Fed chair remarks could shift the interest-rate outlook. On the domestic side, a possible cut in gold import duty from 15% may alter local pricing. Investors should watch the Fed's September meeting: the CME FedWatch Tool currently shows a 36% probability of a rate hike, which would pressure gold. ## Coverage - livemint.com led with price data and analyst views, no editorial stance on government or policy This brief was synthesised by AI from the source linked above. Tags: Federal Reserve, gold, Jackson Hole, Kotak Securities, US Treasury Canonical: https://indianopinion.org/gold-jumps-12-in-a-month-analysts-see-volatile-path-to-record-highs/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/gold-jumps-12-in-a-month-analysts-see-volatile-path-to-record-highs/#story-in-brief How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/