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Commodities

Gold Surges Over 15% This Month Amid Softer Dollar and Bond Buybacks

Guavy AI Editorial Team
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Gold
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Gold prices have surged over 15% this month, making it on track for its strongest monthly gain since September 1999, according to UOB forecasts.

The current price of gold is $4,634.35 per ounce, with futures prices at $4,691.70, not far from a three-month high.

The decline in the US dollar index by 0.8% this month has contributed to the increase in gold prices, making it cheaper for buyers using other currencies.

The US Treasury's bond buyback plans have also provided support to gold prices, pushing down government bond yields by 3 basis points, which makes gold more attractive as an investment option.

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