Gold Gains 1.3% Despite Dollar Pressures
Global gold prices achieved a weekly gain of 1.3%, with the ounce rising from $4,141 to approximately $4,194, despite pressure from the dollar and soaring bond yields. The week was marked by sharp fluctuations, as prices hit a low of $4,066 due to rising oil prices, which heightened inflation fears. Bond yields climbed to their highest levels since 2002, while the dollar reached its highest point in 18 months. Despite these pressures, gold managed to recover some of its losses by the end of the week, as investors await the Federal Reserve's moves and inflation data to determine the next direction of prices.
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