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Gold rises on softer dollar, easing yields; Fed outlook in focus
Gold firmed on Friday as a softer US dollar and easing Treasury yields boosted bullion’s appeal, while market players weighed lingering inflation concerns and the outlook for Federal Reserve interest rates. Spot gold rose 0.9% to $4,169.32 per ounce by 0137 GMT after hitting a two-month low on Wednesday. US gold futures gained 0.9% to $4,194.40. The dollar rally took a breather, making greenback-priced bullion more affordable for holders of other currencies, while the benchmark 10-year Treasury yield slipped for a second straight session. “Possible tightening later on could keep gold at ...
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