Commodities
Gold Prices Rise Amid Stronger Dollar Ahead of US Jobs Report
Gold prices rose by 0.4% to $4,171.19 an ounce on Thursday as markets await US employment data.
The increase in gold prices comes despite a stronger dollar and rising US Treasury yields, which normally would have a negative impact on the precious metal.
The Federal Reserve interest rate hike expectations were reduced after softer-than-expected US inflation data was released on Wednesday.
The 10-year US Treasury yield climbed to its highest level in more than two decades, increasing the opportunity cost of holding gold.
Oil prices also rose, fueling inflation concerns, while HSBC lowered its average gold price forecasts for 2026 and 2027 to $4,490 an ounce and $4,825 an ounce, respectively.