Gold rebounds as dollar steady
Gold prices rose by 0.6% to reach $4,342 an ounce after nearly a 2% loss in the previous session. This comes amid the dollar holding steady near its highest levels in a week, while US bond yields continue to climb, reaching their highest point in nearly three years—adding pressure on the precious metal. This development occurs amid escalating tensions in the bond market and rising energy prices, especially oil, which has seen significant weekly gains. Expectations are also growing that the Bank of Japan may raise interest rates next week, reflecting higher borrowing costs and increasing inflation risks. Meanwhile, European stocks are showing limited recovery, whereas Asian markets continue to decline due to rising interest rates and borrowing costs.
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