Gold Jumps 4.4% to $4,253, Capping 5.5% Two-Day Rally

Spot gold climbed 4.4% to $4,253.36 per ounce on August 5, 2026, after hitting $4,264.93 — its highest since June 18, per Reuters. The move capped a 5.5% two-day rally that reversed an August 3 dip to $4,030.34. A softer dollar and positioning ahead of U.S. jobs data lifted bullion, which had also absorbed reports that President Trump held off on an Iran attack.