Gold Edges Higher as Dollar and Yields Soften Ahead of Payrolls Report

Gold prices rose on Thursday as the US dollar and Treasury yields softened ahead of key payrolls data that could influence expectations for the Federal Reserve's next policy move. Spot gold climbed 1.2% to $4,437.08 per ounce, while US gold futures increased by 1.6% to $4,483.30.

The metal had slipped to its lowest level since August 7 on Wednesday but rebounded as the US dollar index retreated from a nearly three-week peak and Treasury yields eased from multi-year highs.

UBS analyst Giovanni Staunovo attributed gold's rise to 'modestly weaker dollar, and slightly lower U.S. rates.' He noted that gold remains highly sensitive to shifts in market expectations for the September meeting.