Gold prices settled on Friday at their highest levels a month before the release of long-awaited US employment data, as falling Treasury yields and growing fears of a recession boosted the value of the safe-haven precious metal, keeping it on track for a third consecutive week of gains.<\/p>\n\n\n\n
By 0701 GMT, gold settled in spot transactions at $1,790.42 an ounce after hitting its highest level since July 5. Prices rose 1.5 percent this week.<\/p>\n\n\n\n
Also, US futures contracts did not witness little changes to settle at $1805.80.<\/p>\n\n\n\n
10-year Treasury yields have fallen, reducing the opportunity cost of non-yielding yellow metal holders.<\/p>\n\n\n\n
The dollar crept up but struggled to recoup its losses after falling at its fastest pace in two weeks on Thursday.<\/p>\n\n\n\n
Market focus is now on the US non-farm payrolls report for July, which may provide more clarity on the Federal Reserve’s plans to combat inflation.<\/p>\n\n\n\n
For other precious metals, silver rose 0.3 percent to $ 20.21 an ounce in spot transactions, and palladium rose 2.1 percent to $2107.16. While platinum rose one percent to $ 935.14 an ounce, on its way to achieving gains for the third consecutive week.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices settled on Friday at their highest levels a month before the release of long-awaited US employment data, as falling Treasury yields and growing fears of a recession boosted the value of the safe-haven precious metal, keeping it on track for a third consecutive week of gains. By 0701 GMT, gold settled in spot …<\/p>\n","protected":false},"author":9,"featured_media":61161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6885,6874,8143,8529,6984],"class_list":["post-69677","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-fed","tag-gold","tag-interest-rate-hikes","tag-quantitative-tightening","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=69677"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69677\/revisions"}],"predecessor-version":[{"id":69678,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69677\/revisions\/69678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=69677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}