Gold Market
Summaries produced by the GoldRate.info market desk from primary reporting, with sources linked on every article.
Gold is heading for its second straight weekly drop, pressured by a stronger US dollar and higher bond yields. Traders are focused on upcoming payroll data for clues on Federal Reserve policy.
Gold trades in a narrow range below $4,200 during the European session on Friday as traders await the US Nonfarm Payrolls report for fresh directional cues.
Gold has returned to the red zone in Asia after failing to reclaim $4,200, trading near $4,172 as markets await US jobs data that could determine the next directional move.
Gold rose to near $4,180 in early Asian trading on Friday as US Treasury yields eased from multi-decade highs. Focus now turns to the US September nonfarm payrolls report, which could influence the Fed's rate path.
Gold fell 0.6% to $4,154.78 an ounce, heading for a second weekly decline as a stronger US dollar and elevated Treasury yields pressured bullion.
Gold futures on the MCX gained 0.99% to ₹1,50,511 per 10 grams on Thursday, supported by fresh positions and firm spot demand. International prices also moved higher.
Gold briefly spiked above $4,200 on soft PCE data but quickly reversed, leaving the metal near its year-low. We examine the short-term headwinds and why the longer-term picture still favours higher prices.
Gold spot retreated from an intraday high of $4,219 to close at $4,157 as elevated real yields continued to cap upside, according to UOB Global Economics & Markets Research.
Gold rose more than 1.3% on Tuesday, climbing back above $4,170 after a steep fall in oil prices helped ease inflation fears, even as several Federal Reserve officials struck a hawkish tone.