Business · Markets · 1 day ago

Gold rises 1.5% after falling to a two-month low

Gold rises 1.5% after falling to a two-month low

Gold prices rose 1.5% to their highest level in a week.

Spot gold reached $4,194.36 an ounce, while US gold futures for December delivery settled at $4,216.30.

The rise followed a steep fall that took gold to a two-month low last Wednesday.

A stronger US dollar and higher Treasury yields had weighed on prices.

Buyers returned to take advantage of the recent decline, and gold was heading for a weekly gain of about 1.3%.

Other precious metals also advanced: silver rose 2.4%, platinum 3.1% and palladium 2.1%.

The figures point to a broad recovery across the major precious metals, though no further outlook is given.

Sources

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