Gold Prices Rebound on Dollar and Treasury Yields Pullback

Gold prices attempted to rebound on September 3 after hitting its lowest point in nearly a month. Spot gold rose by 1.1% to $4,376.41 as the dollar and Treasury yields pulled back from their highs of the day.

The recovery came after gold touched its weakest point since August 7, giving buyers an opportunity to defend the $4,300 area. Gold futures for December delivery also edged up by 0.4% to settle at $4,414.60.

However, the next major challenge comes from U.S. jobs data, including unemployment claims and the nonfarm payrolls report scheduled for Friday. The question of the day is whether the $4,300 support level can hold and push gold back towards $4,450 and then $4,600.