Weekly Gold Review: COMEX futures break above $4400 per ounce
Mumbai, Sept. 19 -- Gold surged above $4400 per ounce and ended the week higher after three consecutive weekly declines, as softer oil prices eased inflation concerns and helped drive bond yields lower. US 10-year Treasury yields retreated from a multi-year high of 5.04% and dropped under 5% mark, reducing the opportunity cost of holding non-yielding bullion. The dollar index remained around 100, near seven-week highs, as markets continued to assess the Fed's latest rate decision and prospects for further tightening. Gold had initially come after pressure after the Fed hiked interest rates for first time in three-years but moved up steadily thereafter. The commodity added a marginal 0.16% for the week to end at $4415 per ounce and has gaine...
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