Gold gains as stocks retreat; US jobs data in focus

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[BENGALURU] Gold prices rose on Friday, as US Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of US non-farm payrolls data, but a strong US dollar put bullion on track for a weekly decline. Read more at The Business Times.

Lower bond yields reduce the opportunity cost of holding non-interest bearing gold.

The data is expected to show payrolls grew by 1.4 million in August, compared to the 1.763 million jobs created in the previous month. "The reason for gold not sort of firing higher right now is because the dollar is picking up steam," he added.

 

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