Gold prices hit 7-week high: Is it a good time to buy?
8 Articles
8 Articles
Gold hits seven-week high as weak U.S. jobs data dents rate hike bets
Gold prices reached a seven-week high on Friday owing to surprising job losses in the United States that lowered the likelihood of upcoming rate hikes. This trend puts gold on track for its best weekly gain in seven months, as reduced interest rates boost its allure over yield-producing investments. Additionally, silver and platinum prices witnessed notable rises.
Gold getting back its sheen? Prices reach a seven-week high: Should one wait or buy?
After riding a steep descent, gold prices have against started inching up. The yellow metal prices have reached a seven-week high propelled by a weakening dollar, falling US bond yields and softer expectations regarding Fed interest rate hikes and geopolitical developments.
(Dan Tri Newspaper) - Gold prices have risen by approximately 6% in just four sessions and surpassed $4,300 per ounce for the first time in seven weeks. The US jobs report released today is considered a factor that could determine the short-term trend of the precious metal.
Gold prices rose for a fourth straight session on Thursday, hitting a seven-week high as markets see the chances of another Fed rate hike dwindling and investors turn their attention to Friday's U.S. jobs report.
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