---
title: "QUICK SPARK: Gold Eyes Best Month Since September 1999"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296824953.md"
description: "Gold prices surged past $4,700 an ounce in August, marking a 14.69% gain and the strongest monthly performance since September 1999. The rally was driven by a weakening US dollar and lower Treasury yields, triggered by the Treasury Department's plan to double buybacks of long-dated government debt. This fiscal policy shift revived demand for non-printable assets like gold."
datetime: "2026-08-24T19:36:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296824953.md)
  - [en](https://longbridge.com/en/news/296824953.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296824953.md)
generator: "portal-rs"
---

# QUICK SPARK: Gold Eyes Best Month Since September 1999

Gold prices are now on track for their best month of gains since September 1999.

Bullion – tracked by the **SPDR Gold Shares** (NYSE:GLD) – traded above $4,700 early Monday, the highest since May 13, and is up roughly 14% in August.

The last time it moved this fast, fifteen European central banks had just signed a pact promising to stop dumping their reserves. Gold rose then because governments agreed to stop selling it.

This time the trigger was fiscal, not monetary.

The Treasury Department’s plan to at least double buybacks of long-dated government debt pushed yields and the dollar lower, reviving demand for assets that cannot be printed.

On Monday, the 30-year Treasury yields fell by 4 basis points to 4.22%. 

*Photo: Denis—S on Shutterstock.com*

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**