Gold futures for August 2026 delivery climbed above $4,200 per troy ounce on the Comex exchange, marking the first time the benchmark has cleared that threshold since June 22.
The move signals a sustained recovery for the safe-haven asset after a period of volatility that saw prices slide sharply in previous sessions.
This latest advance builds on Thursday’s surge, when gold futures first broke past the $4,000 mark.
The rally comes as investors digest a retreat in the US dollar index, which has provided tailwinds for dollar-denominated commodities.
Market participants are also responding to emerging reports of progress in peace negotiations between the United States and Iran, a development that has helped stabilize risk sentiment across global markets.
While geopolitical tensions have historically driven gold higher, the current uptick reflects a broader repricing of risk assets rather than a pure flight to safety.
This latest advance builds on Thursday’s surge, when gold futures first broke past the $4,000 mark.