The Commodities Feed: Gold Nears $2,200/oz In light of shifting monetary policy expectations, gold prices have soared, nearly touching the $2,200 per ounce mark. This recent surge, culminating in almost a 5% increase last week alone, has been propelled by a series of record highs over four consecutive sessions. The unexpected rise in the U.S. jobless rate has fueled speculation that the Federal Reserve may lean towards a more accommodative monetary policy, which in turn has weakened the dollar and reduced 10-year Treasury yields, further elevating gold’s allure. This rally has also resulted in the highest level of net speculative bullish bets on gold in two months, indicating a strong investor confidence in the metal as a valuable hedge in times of economic unpredictability. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Tech Stocks Lead Market Plunge Amid Economic Uncertainty READ MORE Traders Increase Bets on September Fed Rate Cut Following Inflation Report READ MORE Trade Tensions Rise: India Slaps Tariffs on Chinese and Vietnamese Steel READ MORE Stocks Rise; Key Economic Updates and Corporate Earnings on the Horizon READ MORE China Launches Massive $140 Billion Bond Sale to Fuel Economic Growth READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment