Gold touches seven-week high on Strait of Hormuz reopening hopes

Gold's ascent continued on Thursday, marking the fourth day of increases and reaching a seven-week high. This rally was driven by a softer dollar and dipping Treasury yields. Additionally, hopes for the reopening of the Strait of Hormuz added positive vibes. Market watchers are now keenly awaiting the U.S. nonfarm payrolls data for July.

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