Gold prices rose on Thursday as the dollar and US Treasury yields declined, while investors awaited Friday’s US nonfarm payrolls report for signals on the Federal Reserve’s interest-rate path.
By 02:19 GMT, spot gold was up 0.5% at $4,409.97 an ounce, after hitting its lowest level in nearly a month in the previous session.
US gold futures rose 0.9% to $4,455.30 an ounce.
The dollar weakened, while US Treasury yields fell from their highest levels in several years, boosting gold’s appeal. A weaker dollar makes dollar-denominated metals less expensive for holders of other currencies.
The US nonfarm payrolls report is due Friday, with markets closely watching its impact on expectations for monetary policy.
An employment report from ADP showed that private-sector employment in the United States increased at a moderate pace in August.
Source: Reuters
