Traders eye best gold week since March on bank fearsBloombergGold headed for its biggest weekly advance since the middle of March as renewed worries about the US banking sector fueled bets that the US Federal Reserve might have to cut rates sooner than anticipated. Bullion was steady yesterday, and was up about 3 percent this week. It has surged since early March on falling US Treasury yields, and nervousness over banks and a debt ceiling standoff in the US Congress. A woman checks gold bangles at a jewelry showroom in Kochi, India, on April 21, 2015. The Bloomberg Dollar Spot Index yesterday fell 0.2 percent and was down 0.6 percent over the week.

Source: Taipei Times May 06, 2023 03:36 UTC