Gold heads for sixth weekly gain on risk-off tone and ETF flows
Gold traded just below a record — on track for a sixth weekly gain — supported by elevated geopolitical tensions, inflows into bullion-backed exchange-traded funds, and a risk-off tone in broader markets. Bullion for immediate delivery held near $3,744 an ounce, up by more than 1% this week after peaking on Tuesday above $3,791. European diplomats warned the Kremlin this week that NATO is ready to respond to further violations of its airspace with full force, including by shooting down Russian planes.
Gold traded just below a record — on track for a sixth weekly gain — supported by elevated geopolitical tensions, inflows into bullion-backed exchange-traded funds, and a risk-off tone in broader markets. Bullion for immediate delivery held near $3,744 an ounce, up by more than 1% this week after peaking on Tuesday above $3,791. European diplomats warned the Kremlin this week that NATO is ready to respond to further violations of its airspace with full force, including by shooting down Russian planes.
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