Gold rises 1.3% this week

Gold prices experienced an increase at the end of the week, rising by 1.3%, recovering after falling to a two-month low due to the strengthening dollar and rising U.S. Treasury yields. This upward movement was supported by buying at lower levels, amid expectations that the Federal Reserve may continue to raise interest rates, especially with upcoming high inflation data next week. Additionally, the yields on 10-year Treasury bonds have decreased, which enhances gold's appeal, although the market is anticipating a 19% likelihood of interest rate hikes in October and an 84% chance in December. Alongside gold, other precious metals saw temporary gains; however, some of these metals experienced weekly declines due to decreased demand in the Indian market and rising prices in China.

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