Gold Rises on Weaker US Jobs Data, but Weekly Loss Looms
Spot gold rose over 1% on Friday, driven by weaker-than-expected US jobs data for September which eased concerns about a Federal Reserve rate hike. However, a stronger dollar and elevated Treasury yields kept bullion on track for a weekly loss.
Gold rose over 1% on Friday after weaker-than-expected US jobs data for September reduced concerns about a Federal Reserve rate hike this month. However, a firmer dollar and elevated Treasury yields left bullion set for a weekly decline. 49 per ounce.