2023-10-06 05:43:07
Gold rose from its lowest levels in seven months today, Friday, benefiting from the decline in the dollar and Treasury bond yields following they recorded new high levels this week, ahead of the publication of non-farm payrolls data in the United States.
Gold in spot transactions increased 0.2 percent to $1,823.59 per ounce by 0335 GMT, but it is heading for continued losses for the second week in a row, as it has fallen 1.3 percent so far. US gold futures also rose 0.3 percent to $1,837.60.
Ten-year US Treasury bond yields fell from a 16-year peak, as did the US dollar from its highest levels since November 2022, but they are on track to record the twelfth consecutive week of gains.
Regarding other precious metals, silver jumped in spot transactions 0.5 percent to $21.01 per ounce, platinum gained 0.3 percent to $857.23, and palladium rose 0.7 percent to $1,149.51 following reaching its lowest levels in five years in the last session. The three metals are heading to incur weekly losses.
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