Commodities
Gold Price Surges as Dollar Weakening and Bond Yields Fall
Gold prices rose on Thursday as the US dollar weakened and Treasury yields declined. The spot gold price traded at $4,409.97 an ounce by 02:19 GMT, while US gold futures stood at $4,455.30 an ounce.
The move was driven by a weaker dollar, which makes gold less expensive for buyers using other currencies, and lower Treasury yields that reduce the opportunity cost of holding non-interest-bearing assets like gold.
Recent private-sector employment data showed continued job creation in August, but the official payrolls report remains a key catalyst. The figures are expected to provide a clearer indication of labour-market strength and could influence expectations for Federal Reserve policy.