Gold prices rose to their highest since late February following declines in both the dollar and bond yields Thursday, placing the precious metal on course for a second straight weekly gain.
Spot gold jumped 1.7% to $1,767.18 per ounce by 11:50 a.m. ET. Gold futures for June delivery gained 1.9%, trading at $1,769.70 per ounce in New York.
Meanwhile, a gauge of the US dollar fell as much as 0.2%, and 10-year Treasury yields dropped to the lowest in about a month. Their declines came after US retail sales accelerated in March by the most in 10 months with the help of business re-openings, increased hiring and a fresh round of stimulus checks. US industrial production also bounced back from a weather-related decline in February, though its 1.4% rise still fell below analysts’ expectations.
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