22-05-2025
Gold Holds Decline as US Government Debt, Dollar Make Gains
Gold steadied after its first decline this week, as some traders turned to long-term US government bonds and the dollar instead of the precious metal.
Bullion traded near $3,300 an ounce, after reversing gains made earlier Thursday, and is still up almost 3% this week following haven buying in the wake of Moody Rating's US downgrade. The world's biggest economy faces a precarious fiscal situation, with a growing debt pile and rising interest payments, which could lead to higher borrowing costs and make it harder to reduce the deficit.
