Gold rises 1% to $4,285.69 per ounce, hitting highest level since June 18

Gold prices rose today, Thursday, for the fourth consecutive session, reaching a seven-week high supported by a decline in the US dollar and lower yields on US Treasury bonds, amid growing hopes for the reopening of the Strait of Hormuz. By 0035 GMT, spot gold prices had risen 1% to $4,285.69 per ounce, marking their highest level since June 18. In the previous session, gold recorded its largest daily gain since February. US gold futures gained 0.9% to reach $4,345.50.