Gold Poised For Best Week In More Than Year

11/23/2024 6:41:40 AM

(MENAFN- Baystreet) Gold was ready for great things to end a volatile week, as trade in the shiny yellow metal capitalized on its status as a safe haven.
Spot gold jumped 1.4% to $2,707.05 per ounce as of 1022 GMT, hitting its highest since Nov. 8. U.S. gold futures gained 1.3% to $2,709.70
Bullion rose despite the U.S. dollar hitting a 13-month high, while bitcoin hit a record peak and neared the $100,000 level.
Ukraine's military said its drones struck four oil refineries, radar stations and other military installations in Russia.
Gold has gained over 5% so far this week, its best weekly performance since October 2023. Prices are up more than 6% from a two-month low hit last week.
On Friday, spot silver rose 1.7% to $31.31 U.S. per ounce, platinum eased 0.1% to $959.57 and palladium fell 1.2% to $1,016.90. All three metals were on track for a weekly rise.

MENAFN23112024000212011056ID1108917875

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.