Gold gains as dollar and bonds fall
Gold prices rose today, Thursday, by 0.9% to $4,427.70 per ounce, amid a decline in the US dollar and US Treasury yields. Traders are awaiting the US non-farm payrolls data, which could influence expectations for interest rate hikes by the Federal Reserve. The figures and forecasts related to employment are important in determining the direction of gold prices; a slowdown in the data could lead to reduced expectations for rate increases, thereby supporting higher gold prices, which are seen as a hedge against inflation—especially if prices surpass the $4,400 level.
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