Spot Gold Reaches $4,617 per Ounce in Three-Month High Rally
Spot gold rose to $4,617 per ounce in Washington, hitting its highest level since May 15 and securing a 5% weekly gain for global commodities traders. Financial markets drove the precious metal to its strongest daily level since early February, heading into a third consecutive weekly advance.
Domestically, UAE gold prices climbed to AED541 per gram for 24-karat gold as silver neared the AED8 level.
US gold futures gained 1.7% to settle at $4,647, according to data reported by WAM. The broader precious metals sector mirrored the momentum. Spot silver surged 2% to $69.43 per ounce, platinum advanced 3.8% to reach $1,897.36, and palladium gained 0.6% to settle at $1,342.30.
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