Gold prices climbed higher Friday, securing a weekly gain as inflation and interest rate concerns eased. Spot gold rose 0.3% to $4,700.80 per ounce, with bullion gaining 1.9% for the week. Market sentiment improved despite renewed U.S.-Iran hostilities, as investors remained optimistic about peace deal prospects. Federal Reserve officials signaled steady interest rates ahead, reducing pressure on gold. Meanwhile, China's central bank continued its buying spree, accumulating gold for the 18th consecutive month in April. Silver, platinum, and palladium also posted gains. Markets now await the U.S. employment report to gauge future monetary policy direction and assess economic strength heading into the remainder of the year.
Post from MarketNews_en
Log in to interact with content.