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Gold Prices Rebound on US Yield Retreat Ahead of Key Jobs Data

Guavy AI Editorial Team
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Oil Gold
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Gold prices rebounded in early Asian trading on Friday to around $4,180 as US Treasury yields retreated from multi-decade highs.

The 10-year yield fell to 5.24% after spiking to 5.34%, a new peak not seen since 2002.

Manav Modi, commodity analyst at Motilal Oswal Financial Services Ltd, attributed the gold price increase to geopolitical uncertainty and higher oil prices, which remain an inflation risk.

The market will be closely watching the US September employment data on Friday, which could provide clues about the direction of interest rates.

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