Gold posts biggest weekly rise since January, tops $4,200
Business
Gold just soared above $4,200 per ounce, its biggest weekly rise since January. Silver also climbed, hitting $62.20.
The rally comes as the US dollar weakens and Treasury yields dip, making gold a hot pick right now.
U.S.-Qatar talks, Chinese demand lift gold
Recent U.S.-Qatar talks about reopening the Strait of Hormuz helped calm global tensions, which eased oil price worries and lowered chances of a Federal Reserve rate hike in September.
Plus, disappointing US job data and strong demand from Chinese investors and central banks are keeping gold prices up.