Key Facts
Gold vaulted 2.1% to a fresh record above $4,342 an ounce closing at the highest level ever as investors rushed into the metal while US bond yields and the dollar tumbled.
The US 10-year Treasury yield slipped to 4.651% extending its recent decline and signalling that bond traders are betting the Federal Reserve’s tightening cycle is finished.
The US dollar index weakened 0.39% to 99.539 losing grip of the 100 handle and dragging the greenback lower against nearly every major currency in the risk-on session.
The Nasdaq jumped 1.30% to lead Wall Street higher while the broader S&P 500 added 0.62% to touch 7,758, tying its 52-week high as tech stocks rebounded sharply.
