Shafaqna English- Gold prices extended their winning streak for a fourth consecutive session on Thursday(6 Aug 2026), reaching their highest level in seven weeks. The precious metal’s rally was supported by a weakening US dollar and declining yields on US Treasury bonds, while growing optimism surrounding a potential reopening of the Strait of Hormuz—a critical chokepoint for global oil shipments—also provided additional tailwinds for gold as a safe-haven asset. By 3:30 AM GMT, spot gold had gained 0.5% to trade at $4,265.22 per ounce, having earlier touched its strongest level since June 18. The previous session on Wednesday had already seen bullion record its largest single-day percentage increase since February, underscoring the accelerating momentum behind gold’s recent ascent amid a confluence of supportive factors. www.shafaqna.com