Gold futures rally on central bank demand and weaker dollar.

Gold futures rallied for the third session in four, gaining 5.5% to track toward their first positive weekly close in a month. Bob Iaccino breaks down the latest price action, highlighting a surge in central bank demand. According to the World Gold Council, central banks purchased 321 metric tons of gold in the third quarter, a 40% increase from last year. The discussion also covers macroeconomic tailwinds, as a weaker U.S. dollar and falling Treasury yields combined with lower energy prices to ease inflation concerns and prompt short covering.