Gold Nears $4,070 as Falling US Yields and Eased Iran Tensions Lift Bullion
Gold rose 0.58%, approaching $4,070 per ounce, supported by lower US Treasury yields and a halt in US strikes on Tehran, with President Trump signaling a diplomatic opening.
Gold (XAU/USD) edged higher on Friday, gaining 0.58% to trade near $4,070 per ounce. The precious metal found support from a dip in US Treasury yields, which retreated as bond prices firmed.
The easing of US-Iran tensions also bolstered bullion. Washington paused its military attacks on Tehran, and President Donald Trump indicated he is open to restarting negotiations. This dial-back in geopolitical risk typically reduces safe-haven demand, but the concurrent fall in yields provided a countervailing tailwind for non-yielding assets like gold.
With yields moving lower and the dollar under pressure, bullion attracts buyers looking for a hedge against economic uncertainty. Market participants now await further comments from US officials and any resumption of talks with Iran that could influence the metal’s next move.
Source: FXStreet Forex News