Gold set for best week in six months on softer dollar, Treasury yields : vimarsana.com

Gold set for best week in six months on softer dollar, Treasury yields


updated: May 07 2021, 12:14 ist
Gold prices rose to a 2.5-month high on Friday and were on track for their best week in six months, boosted by a weaker dollar and a pullback in Treasury yields as investors cautiously await US non-farm payrolls report due later in the day.
Spot gold was up 0.3 per cent at $1,820.35 per ounce by 1054 IST, after hitting its highest since Feb. 16 earlier in the session. Bullion up nearly 3 per cent so far this week.
US gold futures rose 0.3 per cent to $1,820.70.
"The weaker dollar and US Treasury yields dropping below 1.6 per cent has helped gold prices to go above $1,800," Brian Lan, managing director at dealer GoldSilver Central said.

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