Gold Rises From Near Seven-Month Low as US Dollar Weakens

Gold prices edged higher on Friday, recovering from near a seven-month low, as a weaker US dollar provided support to the precious metal.

The yellow metal has been under pressure in recent weeks, but found some respite as the dollar index slipped. A softer dollar makes gold cheaper for holders of other currencies, typically boosting demand. The move comes after gold touched its lowest level since late November, reflecting persistent headwinds from elevated interest rates and a strong dollar earlier in the year.

For precious metals traders, the dollar's retreat is a key short-term catalyst. Gold's inverse correlation with the dollar remains a dominant driver, and any further weakness in the greenback could fuel additional gains. Live gold prices and charts on NowPrice show how the market is reacting to these currency moves in real time. However, the broader outlook remains cautious, as the Federal Reserve's hawkish stance continues to cap upside potential.

Looking ahead, traders will focus on upcoming US economic data, particularly inflation readings and employment figures, which could influence the dollar's trajectory and Fed policy expectations. A break above recent resistance levels would signal renewed bullish momentum, while a failure to hold current support could see gold retest the seven-month low.