Gold rallied to the highest level in nearly seven weeks, poised for its biggest daily gain since February, as lower Treasury yields boosted demand for the non-yielding metal. The move was also supported by hopes for progress on opening the Strait of Hormuz, easing geopolitical risk. Overall, the price action suggests a modest positive near-term tailwind for gold.
Gold rallied to the highest level in nearly seven weeks, poised for its biggest daily gain since February, as lower Treasury yields boosted demand for the non-yielding metal. The move was also supported by hopes for progress on opening the Strait of Hormuz, easing geopolitical risk. Overall, the price action suggests a modest positive near-term tailwind for gold.
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Request DemoOverall Sentiment
mildly positive
Sentiment Score
0.15
