Gold faces pressure amid US jobs data
Gold prices declined today, Friday, marking the second consecutive week of losses due to the rise in the US dollar and Treasury bond yields. Investors are awaiting U.S. jobs data for September, which will influence the timing of the Federal Reserve's interest rate hike. The spot gold price fell by 0.4% to $4,161.58 per ounce, while December futures decreased by 0.3%. Market expectations suggest a low probability, around 25%, of a rate hike this month, with a 79% chance of an increase in December. The rising borrowing costs are reducing gold's attractiveness as an investment.
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