Bonds Fell, Gold Rose! Two-Week Losing Streak Ends.
6 Articles
6 Articles
The pause in the dollar's rise and US President Donald Trump's statement that he will halt attacks on Iran until the midterm elections in November pushed gold prices higher.
Gold rose 1.09 percent to $4,177 per ounce, supported by a slowdown in the dollar and a decline in US bond yields.
Gold prices started Friday higher following Trump's statement that there would be no attack on Iran until after the Senate election in November.
The decline in US bond yields, statements regarding talks with Iran, and falling oil prices have supported gold prices. If the price of gold maintains its upward trend, the two-week decline will come to an end.
Trump's statement on Iran eased tensions in the markets. The weakening of the US dollar and the fall in bond yields also gave gold prices some breathing room.
The decline in US bond yields from peak levels, President Donald Trump's statements regarding talks with Iran, and the fall in oil prices from a three-week high are supporting gold prices. As of 06:00 Turkish time, the price per ounce was $4,177. With a weekly gain of 0.9%, if this trend continues, gold's previous two-week losing streak will end.
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