Gold set for third straight weekly gain as US yields, dollar pull back
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Last Updated: Apr 23, 2021, 07:53 AM IST
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Synopsis U.S. President Joe Biden s proposal to hike capital gains tax encouraged investors to flock towards bullion.
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Gold gained on Friday and was poised for a third straight weekly rise as a softer U.S. dollar, falling Treasury yields and a dip in equities after U.S. President Joe Biden s proposal to hike capital gains tax encouraged investors to flock towards bullion.
FUNDAMENTALS
Spot gold was up 0.2% at $1,787.11 per ounce by 0135 GMT, after hitting its highest since Feb. 25 at $1,797.67 on Thursday. The metal has gained about 0.6% so far this week.