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Forex

Gold Prices Edge Higher Amid Strengthening Dollar and Elevated Yields

Guavy AI Editorial Team
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EUR USD
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Gold prices rose on Friday despite a stronger US dollar and Treasury yields. The metal was trading near $4,055.00 an ounce, up 0.16% on the session.

Silver also gained, reaching near $58.31 an ounce with a 1.35% increase.

The market steadied after Thursday's selloff, with traders assessing the US labor market and the European Central Bank's decision to hold interest rates.

Elevated crude oil prices and firm US Treasury yields kept inflation risks higher, but geopolitical risks supported defensive demand for gold.

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