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Global gold price nears third weekly rise
Global gold prices remained stable during Friday's session, heading toward a third consecutive weekly gain, supported by a weaker dollar and efforts by the U.S. Treasury to reduce long-term bond yields. The spot price of gold steadied at $4,514.23 per ounce, up 3.2% for the week, while the futures price remained at $4,571.20. The U.S. dollar declined over the week, making gold cheaper for holders of other currencies. Additionally, the U.S. Treasury announced an increase in long-term bond repurchase operations to bolster the bond market. Other precious metals like silver and platinum also maintained stability or saw gains, all trending towards achieving weekly increases.
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