(Bloomberg) Spot gold headed for back-to-back gains as investors weighed the outlook for the metal’s record-setting rally after this week’s dramatic price swings. Silver climbed the most in more than five years.
Rising U.S. bond yields helped spark a sharp selloff in gold and silver Tuesday and early Wednesday, followed by a rebound. Both metals have resumed their uptrend as the dollar falls a second straight day. They remain among the best-performing commodities this year, aided by negative real yields and vast stimulus to combat the fallout from the pandemic.
Gold gained as much as 2.6% on Thursday as concerns over the outlook for economic recovery persist and central banks and governments signal further support for their economies.