Gold Surges as Dollar Retreats and Yields Ease

Gold prices rose over 1% on Thursday, climbing back above $4,400 an ounce, as a softer dollar and lower yields eased pressure from recent Federal Reserve rate hike bets.

The dollar's retreat, alongside a sharp rise in the Japanese yen, also supported bullion as currency intervention concerns remained in focus.

Investors now turn to Friday’s U.S. nonfarm payrolls report for the next major policy clue.

Fed signals easing inflation as jobs growth slows

New York Federal Reserve President John Williams said there is evidence that US inflation is continuing to ease, as the impact of tariffs fades.

He also noted higher energy prices are not spreading into other services.