Gold poised for largest daily rise since February
Gold prices rose to their highest level in seven weeks, recording the largest single-day increase since February, driven by falling U.S. Treasury yields and expectations of progress in negotiations to open the Strait of Hormuz. Prices surged by 4.4% to reach $4,256.85 per ounce, supported by the 50-day moving average at $4,160. It is expected that the upward movement will continue amid declining prospects of interest rate hikes. Additionally, other precious metals experienced notable gains, with silver rising 4.9% to $62.44 per ounce, fueled by hope for a positive outcome in talks to end Iran's conflict.
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