Gold Prices Surge Over 1.00% Amid Sharp Decline in U.S. Bond Yields
Gold Prices Surge Over 1.00% Amid Sharp Decline in U.S. Bond Yields
Gold prices surged significantly, surpassing the $2,330 per ounce mark during the latest weekly global market session on Friday.
This rise was primarily driven by robust demand from Asia, as buyers in the region continued to purchase more gold despite prices hovering near record highs.
The surge also coincided with ongoing global geopolitical and economic uncertainties.
At the same time, the yellow metal's prices increased by more than 1.00% due to a steep drop in U.S. bond yields during market trading.
The 10-year U.S. Treasury yield fell by 0.88%, reaching 4.204 points.
Additionally, the 20-year U.S. Treasury yield decreased by 0.76%, settling at approximately 4.459 points.
Meanwhile, the 30-year U.S. Treasury yield dropped by 1.43%, hitting 4.338 points. These declines in bond yields significantly bolstered gold prices during trading sessions.
Current Gold Prices
As of now, spot gold prices have risen by 1.14%, reaching around $2,329.99 per ounce. Similarly, gold futures have jumped by 1.26%, recording approximately $2,347.20 per ounce.
