Gold is near the highest level in a month as a result of geopolitical tensions and the decline in US Treasury bond yields

On Friday, gold prices approached their highest level in a month and were heading for gains for the seventh month in a row, supported by geopolitical tension and a decline in US Treasury bond yields.

Gold rose in instant transactions by 0.8% to $5,230.56 per ounce by 1838 GMT. Earlier in the session, it recorded the highest level since January 30, and its price rose 7.6% so far in February. US gold futures for April delivery increased by 1% to $5,247.90.

Yields on 10-year US Treasury bonds fell to their lowest level in three months today, which led to a decline in the opportunity cost of holding the precious metal. Data showed that producer prices in the United States rose more than expected in January, indicating that inflation may rise in the coming months.