Gold prices near over 2-month high


Gold prices on Friday flew near a 2-1/2-month high, supported by a pullback in the dollar.

NSE 0.70 % and Treasury yields as investors carefully expect U.S. non-farm payroll data for additional cues on the health of the world’s largest economy.

Spot gold was even at $1,814.33 per ounce by 0028 GMT, after running its highest after Feb. 16 at $1,817.90 in the prior session.

U.S. gold futures were below 0.1% at $1,814.30 per ounce.

The dollar index climbed to a one-week low versus its competitor, making gold less expensive for other currency holders.

Benchmark U.S. 10-year Treasury yields flew close to a two-week low. Lower bond yields decrease the opportunity expense of holding non-interest-bearing gold.

Markets expect U.S. monthly jobs report is scheduled for release at 08:30 a.m. EST on Friday. Economists expect 978,000 new U.S. jobs for April, as stated in a Reuters survey.

Data on Thursday revealed the number of Americans filing new claims for lay-off benefits fell under 500,000 last week, for the first after the coronavirus epidemic started more than a year ago.

The economic outlook is developing, but more reforms are required before the Federal Reserve will begin to scale back monetary support. Cleveland Fed Bank President Loretta Mester spoke on Thursday.

Palladium slid 0.1% to $2,942.82 per ounce, moving farther away from an all-time high of $3,017.18 score earlier this week.

Silver trimmed 0.1% lower to $27.26 per ounce, while platinum was even at $1,252.41.

  • Support
  • Platform
  • Spreads
  • Trading Instument

For more news updates, visit our homepage now and see our latest news article. Want to learn more about trading? Visit our education page now and learn for FREE!


Leave a Reply