Gold Prices Rise 1%
Gold prices advanced 1% on Thursday for the fourth consecutive session, reaching their highest level in seven weeks at $4,285.69 per ounce, driven by a weaker US dollar and declining Treasury yields. Other precious metals also gained, with silver, platinum, and palladium all posting modest increases.
Precious metals markets extended their recent rally on Thursday, with gold reaching its strongest level in seven weeks. Spot gold climbed 1% to settle at $4,285.69 per ounce, marking the fourth consecutive day of gains and the highest price point since mid-June. The advance was supported by a combination of dollar weakness and declining US Treasury yields, both factors that typically enhance the appeal of non-yielding assets.
Futures contracts reflected similar strength, with US gold futures rising 0.9% to $4,345.50 per ounce. The sustained momentum across multiple sessions suggests underlying demand for the precious metal amid broader macroeconomic conditions.
Other precious metals participated in the broader rally, though with more modest gains. Spot silver increased 0.4% to $62.34 per ounce, while platinum gained 0.8% to $1,750.15. Palladium posted a 1% advance to $1,377.00, indicating broad-based strength across the precious metals complex.
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