Weaker Dollar Boosts Gold Prices Amid Mixed Economic Data

Gold prices have risen by 0.79% to around $4,367.50 an ounce, driven by a weaker US dollar.

The market is balancing softer US economic data, such as weaker retail sales and inflation indicators, against persistent high Treasury yields and rising crude oil prices.

Investors are cautious ahead of the upcoming Federal Reserve meeting minutes and economic reports, with mixed signals on potential rate hikes.

Geopolitical tensions in the Strait of Hormuz also contribute to safe-haven demand for gold, although elevated yields and oil prices limit further gains.