Safe-haven demand drives gold to a third straight weekly gain as market volatility and inflation concerns persist.
Gold prices climbed above 4,500 USD per ounce on Friday, marking a third consecutive weekly gain. The rally reflects heightened demand for safe-haven assets amid volatility in foreign exchange and debt markets.
Rising oil prices have contributed to inflationary pressures, further supporting gold’s appeal as a hedge. The metal’s performance contrasts with recent trends in broader commodity markets, where risk sentiment has fluctuated.
No immediate market reaction data was provided, but the sustained upward momentum underscores persistent investor caution.