Gold steadies after three-month high; crypto extends gains

Spot gold held near $4,652 on Wednesday as silver, platinum and palladium all advanced, while Bitcoin and Ether continued their August rally.

Staff Writer
Gold Souk, Dubai

Article summary

AI Generated

Spot gold held at $4,652.39 per ounce on Wednesday after reaching its highest point in more than three months. Bitcoin and Ether continued their August surge, up 25% and 31% respectively on the month.

Key points

  • Spot gold steadied at $4,652.39 after a three-month high
  • Bitcoin rose 0.8% to $78,829, up 25% in August
  • Dollar index held at 98.918 after three days of gains

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Gold stabilised on Wednesday after hitting its highest level in more than three months in the previous session. Spot gold was steady at $4,652.39 per ounce as of 01:50 GMT, while US gold futures rose 0.3% to $4,709.20.

Other precious metals moved higher. Silver gained 0.7% to $69.09, platinum added 0.6% to $1,869.22, and palladium climbed 1.4% to $1,345.30.

In currency markets, the dollar index held at 98.918 after three consecutive sessions of gains. The euro was steady at $1.1675 and sterling at $1.3647. The dollar slipped 0.1% against the Canadian dollar to 1.38405, while the Australian dollar edged up 0.1% to $0.7172. The New Zealand dollar fell 0.2% to $0.5962, and the yen held at 159.14.

Crypto markets continued their recovery. Bitcoin rose 0.8% to $78,829.03 and Ether gained 0.7% to $2,453.10, putting the two tokens up 25% and 31% respectively since the start of the month.