Gold futures climbed on central bank buying and Fed minutes.

August Gold futures demonstrated upward momentum, climbing over 1% as market participants identified a potential bottoming pattern supported by a series of higher lows over the last 11 sessions. This price action comes on the heels of the latest FOMC minutes, which revealed persistent concerns regarding inflation among policymakers and prompted market participants to reprice interest rate expectations toward a single hike by the end of the year. Additionally, structural support for gold remains robust as China's central bank extended its purchasing streak for the 20th consecutive month, lifting its official reserves above 75 million troy ounces and establishing a firm demand floor for the precious metal.