Gold is rising as Treasury yields decline and ahead of the jobs report


Gold prices rose, Thursday, as a decline in US Treasury yields offset pressure from the dollar’s ​​rally, while investors awaited US non-farm payrolls data for April, which is scheduled for release later this week.
Spot gold rose 0.2 percent to $ 1,789.22 an ounce by 0509 GMT. US gold futures advanced 0.2 percent to $ 1788.20.
“The US Federal Reserve continues to pay here,” said Stephen Inez, managing partner at SBI Asset Management. “It’s good for gold because it keeps yields low.” I think this will ultimately lead to a weakening of the US dollar. ”
Record 10-year US Treasury bond yields hovered near the low of a week they hit on Tuesday, reducing the opportunity cost of holding gold that does not yield a return.
Meanwhile, the dollar index hovered near its two-week high reached on Wednesday.
As for other precious metals, palladium rose 0.1 percent to $ 2,975.18 an ounce, after hitting an all-time high of $ 3,017.18 on Tuesday, supported by a supply shortage.
Silver settled at $ 26.49 an ounce, while platinum fell 0.5 percent to $ 1218.81. (Reuters)


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