Gold Prices Rebound Amid Weaker Dollar and Lower Yields

Gold prices began to recover on Thursday in European trading after falling for four consecutive days. The precious metal rose by 1.65% to $4,335.42, rebounding from a six-week low of $4,235.30 an ounce.

The recovery is attributed to buying at lower levels and a weaker US dollar against a basket of global currencies. Additionally, the 10-year US Treasury yield retreated from its highest level in 19 years, putting downward pressure on the US dollar.

These developments come as investors digest the Federal Reserve's decisions, which were more hawkish than expected. The central bank raised interest rates by 25 basis points to a 3.75%-4.00% range and signaled further monetary tightening to combat inflationary pressures.