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Gold Maintains Gains for Second Straight Week

M. Ali 2 July, 2021 11:31 pm Commodities, Market Update

Gold maintained a positive performance for the third session in a row on Friday to finish the week on a rise for the second consecutive week.

The yellow metal futures for August delivery gained $5.60, or 0.38%, to finish at $1,783.30 per ounce, its highest since June 23.

Gold gained about $15 or 0.8% over the last two weeks amid a fluctuating performance by the U.S. Dollar (USD).

A decline in Treasury bond yields also provided support for the precious metal, amid increased demand for safe havens due to reflation concerns.

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