Analysts are wondering whether the yellow metal has finally found a bottom.
Gold extended its gains to a second session on Friday as the yellow metal rebounded after tumbling to its lowest level since early 2021.Price actionWhat analysts are saying This week’s decline in Treasury yields was helping to... Gold extended its gains to a second session on Friday as the yellow metal rebounded after tumbling to its lowest level since early 2021.
The yield on the 10-year Treasury TMUBMUSD10Y has fallen more than 20 basis points since the start of Thursday’s trading session. It was down 10 points Friday at 2.81%. U.S. stocks have also traded sharply higher this week, bolstered by relatively robust second-quarter corporate earnings. However, the main benchmarks were set for a slight pullback at the open on Friday, with S&P 500 futures ES00 down 0.1%.
The U.S. dollar EURUSD , which has weighed on gold since earlier this year, strengthened against the euro on Friday, although the greenback is set to weaken against the shared currency this week for the first time in several weeks.
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