Solid Gold Berjangka | Gold Set for Worst Week in Six as U.S. Yields Surge Before Jobs Data

08:02 04 August in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs.

Spot gold was little changed at $1,935.07 per ounce by 0412 GMT, while U.S. gold futures rose 0.1% to $1,970.30.

Gold prices have declined more than 1% so far this week, having slipped to their lowest level since July 11 in the last session.

U.S. long-term Treasury yields climbed to their highest since November on Thursday after employment and other economic data pointed to easing inflation.

Non-farm payrolls, or NFP, data due at 1230 GMT will be the next focus for further clues about the U.S. economy’s strength.

Source :Reuters


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