Gold Rises on Dollar’s Fall and US Stimulus Hopes

Gold prices rose, as weak US jobs data boosted hopes of more fiscal stimulus and put pressure on the dollar, although the rise in treasury instrument yields limited the metal’s gains.

The spot price of gold was 0.1% up to $ 1813.96 an ounce. US gold futures rose 0.1% to $ 1815.50.

The dollar slipped from a two-month high on Friday after weak US jobs data fueled concerns about a slow US recovery.

But the rise in Treasury yields for ten years to their highest level since March of last year limited gold’s gains. Higher returns increase the opportunity cost of holding the non-revenue metal.

In other precious metals, silver rose 0.6% in spot transactions to $ 26.99 an ounce, platinum rose 0.9% to $ 1133.75, and palladium advanced 0.3% to $ 2343.59 an ounce.