Gold climbs on weak dollar, global uncertainties
Gold jumped 0.5% to about $3,353.80 per ounce on Friday, mainly because the US dollar got weaker and the world feels a bit shaky right now.
With the dollar down, gold is more affordable for buyers outside the US.
Plus, investors are betting on two Fed rate cuts this year, making gold—an asset that doesn't pay interest—a little more attractive.
Gold's shine amid global uncertainties
Gold is basically a financial comfort blanket when things get unpredictable—it helps protect against inflation and market swings.
Even with some recent ups and downs, gold's value has grown solidly over the past year as global uncertainty sticks around.
If you're watching where people put their money during tough times, gold's continued popularity says a lot.
Other precious metals also gain
It's not just gold in the spotlight—silver rose 0.5% to $38.31 per ounce, palladium hit its highest price since mid-2023 at $1,289.50, and platinum had a brief seven-year high before easing back.
Investors are clearly leaning into precious metals as safe havens while things stay uncertain worldwide.