Gold rises as US Treasury yields fall

Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates.

By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also increased 0.5 percent to $1,785.60 an ounce.

US 10-year Treasury yields have fallen from their highest levels in more than a week, reducing the opportunity cost of non-yielding yellow metal holders.

Higher interest rates in the United States reduce the attractiveness of non-yielding gold.

As for other precious metals, silver fell 0.1 percent to $ 20.02 an ounce in spot transactions, and platinum fell 0.2 percent to 896.14. While palladium rose 0.3 percent to $ 2022.55.