Gold hits 3-week high as dollar and bond yields fall

Gold prices hit their highest level in three weeks today, Tuesday, prompting all precious metals to gain, with the dollar and US Treasury bond yields falling again after recording their highest levels in years, which restored the attractiveness of the non-yielding precious metal.

According to “Reuters”, gold in spot transactions rose 2.5% to $1707.20 an ounce (an ounce) by 0725 GMT, after earlier touching the highest level since September 13 at $1710.39.

Meanwhile, US gold futures rose 0.9 percent to $ 1717.60.

The dollar index fell 0.5%, making gold less expensive for buyers abroad. Ten-year US Treasury yields also fell

As for other precious metals, the price of silver in spot transactions jumped by one percent to $20.96 an ounce, after hitting its highest level since June in earlier transactions.

The price of palladium also jumped by as much as 4.2% before recording an increase of 3.3% in the latest trading to $ 2294.79, and platinum rose 1.2% to $ 912.85 an ounce.