Gold Prices Hit Seven-Week High Amid Weaker Dollar

Gold prices have seen their highest level in seven weeks after rising by 1% on Thursday, marking the fourth consecutive session of gains. According to data from the market, spot gold reached $4,285.69 per ounce, a figure not seen since June 18.

The increase was largely driven by a weaker US dollar and lower US Treasury yields. This trend has been consistent over the past few days, with investors seeking safe-haven assets amidst economic uncertainty.

US gold futures also climbed 0.9% to $4,345.50. Among other precious metals, spot silver rose 0.4% to $62.34 per ounce, platinum gained 0.8% to $1,750.15, and palladium increased 1% to $1,377.00.