Gold Rallies to 3-Month High as Frail Dollar Supports
Spot gold rose 1% to $4,562.86 an ounce as traders priced in a 67% chance the Federal Reserve keeps rates unchanged next month.
10 Articles
10 Articles
Gold rallies to 3-month high as frail dollar supports
Gold was set to rise for a third consecutive week today, scaling an over three-month high and breaching its 200-day moving average, driven by a feeble dollar and the US Treasury's surprise mid-week liquidity support announcement.
The Star Kuala Lumpur
The Hindu Business LineGold climbs to near three-month peak after US Treasury move
GOLD prices hit a near three-month high on Friday, poised for a third straight weekly gain, supported by a softer dollar and the U.S. Treasury's bond buyback move.
Gold was going up for the third consecutive week this Friday, reaching its peak in more than three months.
The weakness of the dollar and concerns about public indebtedness led investors to seek safe haven assets in the face of uncertainty
US Treasury Secretary Scott Bessent wants to buy US Treasury bonds to lower yields in the bond market and thus ease debt servicing. But his attempt is unlikely to succeed: In response, alternative currencies like gold and Bitcoin are taking off. The "hard money trade" is back.
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