Gold prices fall for second week as dollar and bond yields rise
Gold prices declined for a second consecutive session, pressured by a stronger dollar and ahead of key US jobs data.
Key Takeaways
AIGold prices fell in Friday trading in New York, marking losses for the second week in a row as the US dollar and bond yields continued to climb.
Spot gold dropped 0.4% to $4,161.58 per ounce, down about 3% since the start of the week. Gold futures also slipped 0.3% to $4,191.10 per ounce.
Meanwhile, silver prices declined 0.2% to $60.71 per ounce, and platinum fell 0.3% to $1,718.80. Palladium, however, rose 0.6% to $1,177.80 per ounce.
The decline comes ahead of the release of US nonfarm payrolls data, which could provide clues on the future direction of interest rates.