Commodities
Gold Prices Fall for Second Straight Week Amid Dollar Strength
Gold prices have been under pressure for a second consecutive week due to a firming US dollar and rising US Treasury yields. Despite spot gold being little changed at $4,184.45 an ounce by 0419 GMT on Friday, it was down over 2% for the week.
The US dollar is heading for a weekly gain, making gold more expensive for buyers holding other currencies. Higher interest rates generally weigh on gold because the metal does not provide interest income.
Investors are now awaiting the September US nonfarm payrolls report, due at 1230 GMT, for signals on the strength of the labour market and the Federal Reserve's next policy move.