According to CoinMeta, gold has risen for the third consecutive day against the backdrop of the Hormuz Agreement aimed at alleviating inflation concerns, with prices remaining above $4,100. The three-day increase in gold prices coincides with a decline in the probability of a Federal Reserve interest rate hike in September, which has dropped from 68% the previous day to around 55%. This trend indicates that gold prices are directly affected by changes in U.S. policy expectations, rather than a single catalyst. In addition, purchasing demand from central banks has also supported gold prices, with reserve managers such as the Bank of Korea indicating that they will undertake new purchases. Despite some easing of tensions in the Strait of Hormuz, gold prices have remained above $4,000, suggesting that buyers consider the current price to be reasonable.