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Commodities

Gold Soars to Third Straight Weekly Gain on Weakening Dollar

Guavy AI Editorial Team
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Gold
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Gold prices rose on Friday to mark its third consecutive weekly gain, as a weakening US dollar and increased bond buyback operations from the US Treasury contributed to the rally.

The spot price of gold reached $4,540.18 per ounce, representing a 3.6% increase for the week. US gold futures also saw a 0.6% rise to $4,596.60.

A softer dollar has made greenback-denominated metals more attractive to overseas investors, while the US Treasury's plan to scale up long-term bond buyback operations to at least $4 billion in the coming quarter further supported gold prices.

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