Gram gold Gram gold is at record levels

Gold is headed for its biggest weekly gain since early December after falling bond yields supported the precious metal and concerns about U.S. regional banks encouraged investors to price in a faster rate cut. Gram gold is also at record levels. 5-year Treasury yields fell to their lowest level since June. Gold is trading sideways on Friday after rising in the previous session. Spot gold is testing $2,056, while gram gold is trading near record levels at TL2,012. Fears that regional banks in the U.S. will extend their losses from the decline in commercial real estate led to a decline in sector stocks. The resurgence of fears about the health of their banks is increasing demand for safe havens such as Treasury bonds and gold. Just one day after Fed Chair Jerome Powell said that the likelihood of a rate cut in March was low, markets are starting to price in a slightly higher probability that the Fed will cut rates in March and that further rate cuts will be made later in the year. This has a positive effect on the precious metal, which does not yield interest.