WATCH - Gold price sees best week in 6 months

  • 05/08/2021
  • Source: Kitco
  • by: Anna Golubova
(Kitco News) Gold rose more than $70 this week after finally cracking the psychologically important $1,800 an ounce level. Gold hit a 10-week high on much weaker-than-expected U.S. employment data, a lower U.S. dollar, and a retreat in U.S. Treasury yields. Here's a look at Kitco's top three stories.

3. After hitting the $1,800 level, analysts were busy speculating what's next for gold. Many say there is momentum for higher prices, with growing inflation fears triggering risk-off trade into gold. 

"With all the stimulus that is expected to come through, I can see why this narrative of more debt and higher inflation will continue to drive gold prices higher," said Robin Bhar, an independent market analyst.
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