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Commodities

Gold Hits 7-Week High on Weaker Dollar and Falling Yields

Guavy AI Editorial Team
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Gold
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Singapore-based investors saw gold prices rise to their highest level in seven weeks on Thursday, buoyed by a weaker US dollar and lower US Treasury yields.

The spot price of gold reached $4,285.69 per ounce, its highest since June 18. This marks the fourth consecutive day of gains for gold, following its largest daily increase since February in the previous session.

A weaker US currency makes dollar-denominated commodities cheaper for holders of other currencies, contributing to the rise in gold prices.

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