Gold Rallies to Three-Month High
Gold prices climbed to a three-month high on Friday, driven by a weaker U.S. dollar and a technical breakout above key moving averages. The metal is on track for its third consecutive weekly gain amid strong demand for macroeconomic hedges.
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Gold climbed 2.4% to $4,623.94 per ounce on Friday afternoon, hitting a three-month high and heading for its third straight weekly gain. The rally was driven by a weaker dollar and a break above the key 200-day moving average. Prices have surged over 5% this week, marking the biggest one-day advance since early February amid rising demand for macro-policy hedges.
