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    Gold price holds above $4,300: funding and project risk notes for miners

    August 11, 2026|

    Reviewed by Joe Ashwell

    Gold price holds above $4,300: funding and project risk notes for miners

    First reported on MINING.com

    30 Second Briefing

    Gold has broken above $4,300/oz for the first time since June, trading around $4,340 and holding above its 60-day moving average after a near 7% weekly jump from roughly $4,000. The move follows an unexpected loss of 23,000 US jobs in July, which has strengthened rate-cut bets, while hedge funds and money managers have lifted net long positions to their highest in over six months, per CFTC data. Additional support comes from the People’s Bank of China, which increased gold reserves in July by the largest amount since October 2023, with spot now around $4,363/oz and silver at $65.15/oz.

    Technical Brief

    • Gold traded intraday around $4,340/oz, maintaining levels not seen since June.
    • Price action followed a near month-long consolidation band just above $4,000/oz.
    • Bullion is currently trading above its 60‑day moving average, reinforcing short-term technical support.
    • US non-farm payrolls showed an unexpected loss of 23,000 jobs in July, shifting rate expectations.
    • Hedge funds and money managers lifted net long gold positions to a six‑month high per CFTC data.
    • China’s central bank increased gold reserves in July by the largest tonnage since October 2023.
    • Spot silver moved in tandem, reaching $65.15/oz at 12:23 p.m. in New York.

    Our Take

    The conditional US$400 million financing for Sunrise Energy Metals’ scandium project in Australia sits alongside other mine-to-magnet rare earth funding moves such as REalloys’ US$100 million raise at Hoidas Lake, signalling that high gold and silver prices are not crowding out capital for critical minerals in our recent coverage.

    Codelco’s strong copper production performance at Escondida and Collahuasi, referenced here alongside copper price volatility in other recent pieces, suggests that Chilean output resilience may temper the upside for copper even as gold and silver prices surge, affecting portfolio allocation decisions for diversified miners and funds.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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