Abu dhabi: Gold prices rose to their highest level in almost seven weeks on Wednesday and were on track to post the biggest daily growth since February due to lower Treasury yields: Spot gold climbed 4.4% to $4,265.85 per ounce by 1650 GMT, having hit $4,258.99, its highest since June 18, and broken above the 50-day moving average, which now supports it at $4,160.

According to Emirates News Agency, US gold futures for December delivery rose 4% to $4,317.40 per ounce.