Gold Rises on Dollar Woes and Records Second Weekly Rise

Gold prices rose on Friday, as the U.S. Dollar (USD) declined, further increasing their second consecutive weekly gains.

The yellow metal futures managed to finish the week at their best level in about three months.

It is worth noting that a recent surge in Treasury bond yields, due to fears about the rise in the U.S. consumer inflation rate, limited gold’s weekly rise.

Gold futures for June delivery finished higher by $14.10, or 0.8%, at $1,838.10 per ounce.

This is the highest closing level for gold’s most active contracts since February 10, registering a weekly increase of 0.4%.

Meanwhile, silver futures for July delivery leveled up by 31 cents, or 1.1%, to settle at $27.37 per ounce, but failed to recover from their 0.4% weekly loss.