Gold Prices Rise as Investors Await US Interest Rate Outlook
Gold prices rose by more than 1 percent in Asian trading on Friday, supported by declines in the US dollar, Treasury yields, and oil prices, as investors awaited further clarity on the outlook for interest rates.
Spot gold rose 1.1 percent to $4,177.44 per ounce, while US gold futures gained the same percentage to $4,202.
Among other precious metals, silver rose 1.4 percent to $60.16 per ounce, platinum gained 2.6 percent to $1,676.67, and palladium climbed 2.8 percent to $1,154.70, although all three metals were on track to post weekly losses.
In currency markets, the dollar's rally stalled, while US 10-year Treasury yields fell for a second consecutive session, boosting gold's appeal to holders of other currencies.
Source: QNA
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