Gold Hits $4,600 While Everyone Watched Canada Geese

Sept 3, 2026, 9:16 am BST

Gold went from $4,085 to over $4,600 in the space of a month, while most of the financial press was distracted by US-Canada trade theatrics and the odd geopolitical curveball. In this month’s webinar, Jan Skoyles returns from leave to unpack what actually moved the market in August: Japan’s near $100 billion yen defence unwinding almost as fast as it worked, the US Treasury stepping into its own bond market, China’s confirmed 20 tonne gold purchase in July, and Scott Bessent’s threat to weaponise the dollar system further under what he’s calling “Operation Economic Outcast.”

We talk through the FSB’s warning on AI leverage and financial stability, the widening gap between the Fed and Treasury on interest rates, food and fuel inflation feeding through from the summer’s extreme weather, and why the old gold-versus-bond-yields relationship keeps breaking down.

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.