Gold falls for second week amid dollar, yields
Gold prices declined for the second consecutive week due to the strength of the U.S. dollar and rising Treasury bond yields, which reached their highest levels since 2002, reducing gold's appeal as a non-yieldingAsset. The spot price of gold fell by 0.4% to $4,161.58 per ounce, and December US futures declined by 0.3% to $4,191.10, as markets await the U.S. non-farm payroll report to support the Federal Reserve's monetary policy expectations. The chances of an interest rate hike this month have decreased to around 25% from 70% at the start of the week, while the likelihood of a hike in December remains at 79%.
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