Gold is on track for its best weekly performance since April
Gold prices rose today, Friday, supported by increasing concerns regarding the financial situation in the United States, which boosted demand for safe-haven assets.
Spot gold climbed by 0.2% to reach $3,299.79 per ounce, marking weekly gains of nearly 3%, heading towards its best weekly performance since early April.
U.S. gold futures also increased by the same percentage to $3,299.60.
This performance comes at a time when markets are in a state of anticipation, following the U.S. House of Representatives’ passage of a comprehensive tax and spending bill expected to add trillions of dollars to the national debt and reinforce key elements of President Donald Trump’s economic agenda.
Assets like gold are considered traditional refuges for investors during periods of political and financial uncertainty, enhancing its appeal amid these developments.
Other precious metals remained stable, with silver holding at $33.07 per ounce, while platinum increased by 0.1% to $1,082.47, and palladium declined by 0.3% to $1,012.00.
