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Gold rebounds, likely to reach $5,400
Gold regained its shine, posting weekly gains of nearly 5%, supported by market tensions, dollar weakness, and increasing concerns over rising U.S. debt. The Federal Reserve's plan to buy long-term bonds led to a decline in U.S. Treasury yields, which in turn boosted gold prices, reaching $4,647.70 per ounce. It is expected that the price of an ounce may reach $5,400 in the coming months, driven by the growing global debt levels and continued dollar weakness, despite challenges such as rising oil prices and bond yield pressures.
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