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 Why have all Chinese banks disappeared from the LBMA Gold Price auction? READ MORE Gold: The Unhackable Asset Continues to Shine READ MORE Illicit Gold Trade from Africa to UAE Exceeds $23 Billion Annually READ MORE Chinese Central Bank kicks off New Round of Gold Accumulation READ MORE U.S. National Debt Soars to Dizzying Heights, Joining Global Debt Pile-Up READ MORE Add a Comment Cancel replyYour email address will not be published.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