Gold Prices Climb Amid Weakened Dollar and Lower Treasury Yields

Gold prices surged on the week due to a weaker US dollar and lower US Treasury yields. The price of 10 grams of 24 carat gold rose by 4.73 per cent, from Rs 1,42,863 at market opening on Monday to Rs 1,49,621 on Friday. The India Bullion and Jewellers Association published the data.

The US dollar's decline and lower US Treasury yields contributed to the increase in gold prices. Weaker-than-expected US labor data reduced the likelihood of further tightening by the US Federal Reserve.