Gold Prices Hold Above $4,000 Amid Cooling Oil and Bond Yields

Gold prices maintained their momentum above $4,000 per ounce at the end of last week's trading session. The market saw support from cooling oil prices and falling US bond yields, despite a strong dollar.

The price of gold edged up before closing out the week as oil prices retreated and 10-year US government bond yields dropped to 4.678%, its lowest level in 18 months. Meanwhile, the USD index held steady around 101.47 points, limiting gold's upward potential.

Pressure on the energy market also eased somewhat, with Brent oil prices falling to $96.78 per barrel after reaching a high of over $102 per barrel. WTI oil prices hovered around $85.15 per barrel.