Gold Price Slumps Ahead of Crucial US Jobs Data

Gold prices fell by 0.6% to $4,154.78 per ounce on Friday, marking its second consecutive weekly decline. The decrease comes as a stronger US dollar and higher Treasury yields put pressure on bullion.

The pullback in gold prices was anticipated as investors await the release of key US employment data, which could influence the Federal Reserve's interest-rate path. A firmer US dollar reduces the appeal of non-yielding assets like gold.

Traders are now focusing on the US nonfarm payrolls report and unemployment data for signs of a stronger or weaker US economy, potentially altering expectations around the Federal Reserve's monetary policy stance.