Gold Surges as US Treasury Yields Fall, Oil Prices Ease

The price of gold has risen by 0.38% to $4,065 on Friday, despite a firm US Dollar and growing speculation that the US-Iran war may last longer than expected.

This uptrend is largely driven by the decline in US Treasury yields, with the 10-year benchmark note dropping three basis points to 4.667%, as well as easing oil prices, which have fallen 3.83% to $88.79.

The next key catalyst for gold prices will be the Federal Reserve's decision on interest rates, scheduled for July 29, with a 59% chance of keeping rates unchanged and a 41% chance of a 25-basis-point rate hike.