Gold surges 1.5%, marking fourth successive record high

Economies.com
2024-04-02 18:39PM UTC

Gold prices rose on Tuesday as the dollar lost ground against most major rivals, while US treasury yields advanced. 

US 10-year treasury yields rose by 6.2 basis points to 4.39%, while two-year yields stabilized at 4.722%. 

Fed Chair Jerome Powell said in a San Francisco conference that policymakers shouldn’t rush into interest rate cuts, especially as the US economic performance proves resilient, while inflation remains above 2%.

Earlier US data showed available job openings rose to 8.8 million jobs in February, above 8.7 million jobs in January. 

Otherwise, the dollar index fell 0.2% as of 15:41 GMT to 104.8, with a session-high at 105.1, and a low at 104.6. 

On trading, gold spot prices rose 1.6% as of 18:26 GMT, or $34.6 to $2291.90 an ounce. 

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