Gold prices fall for second week on strong dollar, high yields
At a glance
- Spot gold prices fell 0.6% to $4,154.78 per ounce.
- Prices are on track for a second consecutive weekly decline.
- A stronger US dollar and high Treasury yields are pressuring gold.
Story so far
International gold prices have fallen for a second consecutive week, influenced by macroeconomic factors. A strengthening US dollar and the highest US Treasury yields since 2002 have made gold more expensive for holders of other currencies and reduced its appeal as an investment. Spot gold dropped by 0.6% to $4,154.78 per ounce. Markets are now anticipating US payrolls data for indications of the Federal Reserve's next move on interest rates.
Latest development
Gold prices declined on Friday, heading for a second straight weekly loss due to a stronger US dollar and high Treasury yields. Spot gold fell 0.6% to $4,154.78 per ounce as investors await key US jobs data for signals on future interest rate hikes.
Responses
Latest Fact Checks
Gold slips before US payrolls data, set for second weekly loss
Gold prices fell on Friday and were on track for a second straight weekly decline, pressured by a firmer US dollar and elevated Treasury yields, while investors awaited key US payrolls data for clues on the Federal Reserve’s policy path. Spot gold
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