Gold Edges Higher Amid Geopolitical Risks, Firm US Yields

Gold prices have begun to recover after Thursday's selloff, with spot gold trading near $4,055.00 an ounce and up 0.16% on the session.

The metal has found support in geopolitical risks, but elevated oil prices and firm US Treasury yields are limiting its upside potential.

Initial jobless claims have fallen to their lowest level since September 1969, reinforcing the view that layoffs remain historically low.

The European Central Bank's decision to hold interest rates steady has also been a factor in gold's price movement.