During Friday’s session, gold rose above $4,350 per ounce. The rise in prices was driven by a weaker US dollar, though this proved insufficient to offset the losses of previous trading days.
According to Investing, pressure on the market intensified following the US Federal Reserve’s decision to raise its key interest rate by 0.25 percentage points. Investors are now awaiting further moves by the US central bank, whilst yields on US government bonds have approached their highest levels in nearly two decades. This reduces the appeal of gold relative to assets that generate interest income.
Other metals also traded mostly higher on Friday. Silver rose by around 1 per cent to $64.7 per ounce, whilst copper remained at around $6.78 per pound.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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