Traders woke to gold finally pushing above $1,800 — hitting $1,810.72 by 9am EST — only to watch it slip back under the mark within three hours. A modest net gain remained, but the real story was what set off the waves.
What pushed gold up
- A weakening U.S. dollar — gold and the dollar move inversely, and as the dollar loses value, investors (especially outside the U.S.) prefer gold over dollar assets.
- Central-bank buying — Serbia announced plans to lift gold holdings from 36.3 to 50 tonnes (“the most significant guardian against inflationary and other financial risks”), and Ghana moved to double its reserves.
What to watch next
Waves like these are the market testing a level: $1,800 acts as the line where profit-taking meets fresh demand. Sustained central-bank buying and dollar softness would tilt the fight upward.
Wave-riding for sellers: intraday swings matter less than the level the market keeps returning to — that’s the number your offer follows.
Our prices track the market every day — catch the wave with a live offer on your gold.
