According to CoinMeta, on Tuesday, the price of gold rose due to the weakness of the US dollar, reaching its highest point in three months. Spot gold increased by 0.6% to $4677.19 per ounce, the highest level since mid-May. UOB predicts that gold is on track to achieve its largest monthly increase since September 1999, with a rise of over 15% so far this month. Gold futures also rose by 0.5% to $4720.3, setting a new three-month high. The weakening dollar makes gold, denominated in dollars, more attractive to investors holding foreign currencies, while lower yields on government bonds reduce the opportunity cost of buying gold. The US Dollar Index has fallen by 0.8% so far this month. Investors are also watching for remarks by Federal Reserve Chairman Walsh at the Jackson Hole Symposium, as the market awaits more clues regarding interest rate prospects.