Gold futures surged despite rising Treasury yields.
Gold futures finished the week with a strong rally, posting their biggest daily percentage gain in just over five weeks. Prices rebounded sharply from Wednesday's two-month low, climbing 1.85% to reach $4,233.70. Gold moved higher alongside rising Treasury yields, a stronger U.S. dollar, and volatile oil prices following early reports of tanker attacks near the Strait of Hormuz. Buyers continued to step in, as market focus shifts toward next week's CPI report. In the energy complex, Hurricane Isaias disrupted Gulf crude production ahead of its expected landfall. The Category 3 storm forced the shut-in of roughly 63% of Gulf oil output, temporarily halting about 1.2 million barrels a day. Markets continue to monitor how the temporary loss of supply may impact energy prices and broader inflation expectations.
Gold futures finished the week with a strong rally, posting their biggest daily percentage gain in just over five weeks. 70. S. dollar, and volatile oil prices following early reports of tanker attacks near the Strait of Hormuz.
Buyers continued to step in, as market focus shifts toward next week's CPI report. In the energy complex, Hurricane Isaias disrupted Gulf crude production ahead of its expected landfall. 2 million barrels a day. Markets continue to monitor how the temporary loss of supply may impact energy prices and broader inflation expectations.