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Gold prices rose to a seven-week high as of the date of publication on Thursday, 6th August, extending gains for a fourth consecutive session, supported by a weaker US dollar and lower US Treasury yields.
Spot gold traded at $4,289.00 per ounce, its highest level since 18th June, while US gold futures stood at $4,345.50 per ounce.
The yield on the benchmark 10-year US Treasury note declined, while the US dollar came under pressure, boosting gold’s appeal to holders of other currencies.
Among other precious metals, silver traded at $62.34 per ounce, platinum at $1,750.15, and palladium at $1,377.00 per ounce.
WAM
