Gold rises as US dollar and bond yields retreat
Gold prices advanced as the US dollar and Treasury yields dropped from recent highs. Investors await the upcoming payrolls report to gauge Federal Reserve rate hike expectations.
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Gold rose 1.2% to $4,440.87 per ounce on Thursday afternoon, driven by a softer United States dollar and declining Treasury yields. The precious metal rebounded from a multi-week low touched earlier in the week. Investors are positioning themselves ahead of a crucial payrolls report that could determine whether interest rates rise further.
