Gold Gains for Third Day on Dollar, Oil Decline
Gold prices rose for the third consecutive session, supported by a decline in the dollar and a drop in oil prices. The spot price reached a two-week high of $4,133.83 per ounce, while U.S. gold futures increased by 1% to $4,191.90. Expectations for a U.S. interest rate hike decreased from 67% to 59%, as markets await the upcoming U.S. employment data on Friday, which could influence the direction of interest rates. Additionally, the weaker dollar and geopolitical tensions—particularly Qatar’s progress in mediating between the U.S. and Iran—have contributed to boosting gold prices.
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