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Spot gold rose 1.6% to $4,591 an ounce on Friday and is on track for a third consecutive weekly gain
One kilogram gold bars and a five hundred gram gold bar in April 2025 (Angel Garcia/Bloomberg via Getty Images)
Gold climbed to a near three-month high on Friday, driven by the U.S. Treasury's decision to expand its buyback of long-dated government bonds and a weakening dollar, putting the metal on pace for a third straight weekly gain.
Spot gold was trading at $4,591.01 per ounce, up 1.6% on the day, after briefly reaching $4,601.29 — a peak not seen since May 15. U.S. gold futures climbed 1.7% to $4,648.00, with the metal posting roughly 4.2% in weekly gains.
