Gold prices hit a two-week high above $4,100, extending a 3.5% rally as a weaker US dollar and falling bond yields bolster demand for the non-yielding asset.
Gold gained strong follow-through after the previous day's rally of over 3.5%, its biggest daily gain since mid-August, and surged past $4,100 to a two-week top during the Asian session on Thursday. The move is linked to USD weakness and softer bond yields, both of which support gold. The two-week-top description suggests the rally is strong but not a fresh record high.
Gold rallied over 3.5% the previous day, its biggest daily gain since mid-August.
Gold surged past the $4,100 mark and hit a two-week top.
The article attributes gold's rally partly to USD weakness. A weaker dollar tends to support dollar-denominated gold, but the article gives no specific dollar index level, currency pair or economic data to quantify the move.
Gold's rally is linked to USD weakness.
No specific dollar level or currency pair is cited.
Softer bond yields are cited as a factor behind gold's move. Lower yields reduce the opportunity cost of holding gold, but the article does not name a specific maturity or yield level.
Softer bond yields are cited as a factor supporting gold's rally.
The article refers to bond yields generally and does not name a specific maturity.
Gold prices extended their recovery on Thursday, surging past the $4,100 level to reach a two-week high. The precious metal is building on a 3.5% gain from the previous session, its strongest performance since mid-August. Market participants are pointing to a softer US dollar and declining bond yields as the primary catalysts for the ongoing bullish momentum.
Gold is being supported by a combination of a weaker US dollar and softer bond yields, which reduce the opportunity cost of holding the metal.
Gold hit a two-week high after recording a 3.5% gain in the previous session, its largest single-day increase since mid-August.