Reported about 11 hours ago
Gold is on track for its largest weekly increase in over a month, rising towards $3,330 an ounce, driven by investor anxiety over the US fiscal deficit following Moody’s downgrade of the country’s credit rating. The metal's appeal has surged amid fears that President Trump's tax reforms will exacerbate the deficit, alongside consistent demand from central banks and geopolitical tensions. Despite a rising yield on US Treasuries, gold's relationship with yields has weakened, maintaining support for its price increase.
Source: YAHOO