Forex
Gold Buoyed by Weaker Dollar and Lower Treasury Yields Ahead of Inflation Data
Gold prices rose in European trading on Thursday, remaining in positive territory for a second consecutive day. The metal's value increased by 0.75% to $4,435.10, from an opening level of $4,402.03.
The price gain came as the US dollar index fell, extending losses for a fourth consecutive session and approaching its lowest level in three weeks. A weaker US currency makes dollar-denominated gold more attractive to buyers holding other currencies.
US Treasury yields also decreased on Thursday, with the yield on the 10-year US Treasury note falling by 0.25%. This downward pressure on the US dollar is expected to support gains in gold and other precious metals.