Gold Looks to Build on Strength Beyond $4,150 as USD Stays Weak Amid Declining Bond Yields
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Gold prices rise to $4,175.21 as bond rally offsets Fed rate hike concerns
Gold prices edged up on Friday after climbing to a two-week high in the previous session, as a sell-off in global equities drove investors toward bonds and pushed U.S. Treasury yields lower. As of 4:42 GMT, spot gold rose 0.11 percent to $4,175.21 an ounce, while U.S. gold futures gained 0.63 percent to $4,196.35. In […]
Economy - Global stock sell-offs have driven investors towards safe havens. Gold, boosted by falling US bond yields, rose 1.6 percent on Thursday, recording its strongest daily performance in more than two weeks.
Gold prices largely maintained their gains after Thursday's strong rise, supported by selling pressure in equity markets and a decline in US Treasury yields. With gold trading around $4,160 per ounce, investors' focus has shifted to the Federal Reserve's (Fed) interest rate policy and upcoming announcements.
Gold held onto its gains from Thursday, which saw its strongest daily rise in more than two weeks.
Gold prices in the New York market closed up $62.20, supported by a weaker dollar and lower US government bond yields, increasing the attractiveness of gold as an investment. The post “New York Gold” Closes Up $62.20 on Weaker Dollar and Lower Bond Yields appeared first on Business Online Stock News.
Cash gold rose by 1.2% to $4,153.42 per ounce, having fallen to its lowest level in a week during the previous session.
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