Gold hits three-month peak near 4600
Gold prices rose notably on Friday, reaching their highest level in over three months, marking the third consecutive week of gains. Support came from a break above key technical levels and a decline in the dollar following the U.S. Treasury Department's announcement of plans to expand Treasury bond repurchase operations. This led to a 1.6% increase in spot gold, reaching $4,590.51 per ounce, with a previous high of $4,604.18. U.S. gold futures also climbed by 1.7% to $4,647, achieving about 5% gains over the week. Sources suggest that the next target could be $4,700 if the momentum continues. Additionally, other precious metals also rose: silver (+2% to $69.43), platinum (+3.8% to $1,897.36), and palladium (+0.6% to $1,342.30).
Notice: This Is an AI-Generated Summary
Comments (0)