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Commodities

Dollar Weakness Drives Gold Price Surge

Guavy AI Editorial Team
Instruments
Gold
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Gold prices rose by 0.73% to $4,387.73 after hitting an intraday high of $4,418.39 as the dollar index fell to a four-month low of 98.795.

The US Treasury's intervention in the foreign exchange market to protect its own bond market is seen as a structural gold story.

While the Federal Reserve's potential interest rate hike next week could weigh on gold prices, the current rally is fragile and vulnerable to a hot inflation print.

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