18 Hrs
Source:
الاقتصادية
Gold gains 5% to three-month high
The price of gold rose to its highest level in over three months, achieving an increase of approximately 5% over the week. The rally was supported by a decline in the US dollar’s value and the metal surpassing key technical levels, such as the 200-day moving average. The US dollar’s retreat, resulting from possible reductions in US Treasury bond sales and shifts in economic policy distributions, boosted gold’s appeal. This was further reinforced by bond buyback operations that led markets to anticipate higher prices. Additionally, demand for hedging tools against global economic policy risks increased, despite a decrease in actual demand from some buyers in India. Demand remained stable in China, the world's largest gold consumer.
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