Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months.<\/p>\n\n\n\n
Spot gold rose 0.1 percent to $1,936.15 an ounce by 0138 GMT. US gold futures rose 0.2 percent to $1,971.70 an ounce.<\/p>\n\n\n\n
Gold prices have lost more than 1 percent since the beginning of this week and recorded their lowest levels since July 11 in the last session.<\/p>\n\n\n\n
Long-term U.S. Treasury yields rose to their highest since November on Thursday after employment and other economic data pointed to easing inflation.<\/p>\n\n\n\n
Thursday’s data showed the number of Americans filing for unemployment benefits for the first time rose slightly last week, while business layoffs fell to an 11-month low in July as the labor shortage continued.<\/p>\n\n\n\n
The Bank of England raised its main interest rate a quarter of a percentage point to its highest level in 15 years on Thursday, the 14th consecutive increase, and warned that rates will remain high for a while.<\/p>\n\n\n\n
Silver in spot transactions increased 0.2% to $23.6 an ounce, while platinum rose 0.3% to $917.29. Both metals are heading for a third consecutive week of losses.<\/p>\n\n\n\n
Palladium rose 0.2 percent to $1,260.65 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months. Spot gold rose 0.1 percent to $1,936.15 an ounce by 0138 …<\/p>\n","protected":false},"author":9,"featured_media":61843,"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":[38,37,36],"tags":[6885,9591,6874,8143],"class_list":["post-87370","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-fomc-decision","tag-gold","tag-interest-rate-hikes"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87370","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=87370"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87370\/revisions"}],"predecessor-version":[{"id":87371,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87370\/revisions\/87371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61843"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=87370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}