Gold Scores First Gains in Five Days

Gold prices rose on Thursday, registering its first rise after four consecutive declines, including the formation of a death cross on Wednesday.

Recovering some its weekly losses, gold futures for April delivery rose by $2.20, or 0.1%, to close at the level of $1,775 per ounce.

Yesterday, the most active contracts for the precious metal formed their first death cross since June 2018, with the 50-day moving average crosses below the 200-day moving average. The 50-day moving average reached $1,856.46, while the 200-day moving average stood at $1,857.67.

The yellow metal came under strong pressures this week amid the rise of treasury yields.