With geopolitical tensions, central-bank policies and higher bond yields once again dominating markets, gold (XAU/USD) ended the final week of July around $4,050 an ounce. As the conflict in the Middle East heated up last week, gold initially rallied, only for gains to be whittled away following a surge in Brent crude prices to above $100 a barrel and consequently higher bond yields and the US dollar. Despite the retreat, gold was well clear of the $4,000 psychological level, supported in part by persistent central-bank buying and safe-haven appeal. Next week’s Federal Reserve meeting and US jobs report, alongside ... (full story)