Gold prices rise sharply this week

Gold prices rose by over 1% globally at the start of the week, regaining the level of over $4,100 per ounce. This increase was driven by easing geopolitical tensions and a decline in oil prices, which alleviated inflation pressures and reduced expectations of interest rate hikes. The spot gold price reached $4,103.99 per ounce, while August futures stood at $4,106.11. The market was also influenced by a weaker dollar and lower U.S. Treasury yields, along with decreased energy and financing costs. Additionally, gains continued across other precious metals such as silver, platinum, and palladium, with expectations of further stability or upward movement in the near term if the supportive factors persist.

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