Gold tallies fifth straight weekly rise with Middle East risks rising

seekingalpha04-20

Gold futures gained on Friday to wrap up a fifth straight weekly increase, the metal's longest winning streak since January 2023, even as the dollar and bond yields have climbed while expectations for...

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Gold's 16% YTD rally has been driven according to Hansen by a combination of geopolitical risks related to the Middle East and the war in Ukraine, strong retail demand in China, central bank demand, rising debt-to-GDP ratios among major economies, and a potential resurgence of inflation. Front-month Comex gold (XAUUSD:CUR) for April delivery closed +1.8% for the week to $2,398.40/oz, including Friday's 0.7% gain, and front-month April Comex silver (XAGUSD:CUR) ended +1.9% to $28.808/oz, and up 1.7% on Friday. ETFs: (NYSEARCA:GLD), (NYSEARCA:GDX), (GDXJ), (IAU), (NUGT), (PHYS), (GLDM), (AAAU), (SGOL), (BAR), (OUNZ), (SLV), (PSLV), (SIVR), (SIL), (SILJ) \"The escalation and de-escalation situation in the Middle East has taken hold of the markets,\" David Meger of High Ridge Futures says, adding that gold would pull back if the situation actually de-escalates, but longer term, the \"higher uptrend in gold will continue as the Federal Reserve might not be cutting rates as soon as the market expects.\"  More on gold and gold miners  Gold At $3,000 Per Ounce Is Possible GLD: Gold To The Moon Is Bad News - Part 2 Gold's Battle Royale: Inflation Vs. 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