Gold Prices Soar to Three-Month High Amid Broader Precious Metals Gains

Gold prices have reached a three-month high, marking a third consecutive weekly gain. On Friday, spot gold climbed to $4,617 per ounce, its highest level since May 15. This surge also saw US gold futures rise by 1.7% to settle at $4,647.

The precious metal's increase is part of a broader trend, with other precious metals also experiencing gains. Spot silver surged 2% to $69.43 per ounce, platinum gained 3.8% to $1,897.36, and palladium advanced 0.6% to $1,342.30.

Gold has recorded a significant weekly gain of 5%, reaching its highest daily level since early February on Wednesday.