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Gold rebounds above $4,180 as US Treasury yields ease
The move came after the US 10-year yield pulled back from a multi-decade peak at 5.34%, easing to 5.24%.
Gold prices rose to near $4,180 in the early Asian session Friday, rebounding as US Treasury bond yields retreated from multi-decade highs, according to FXStreet.
The US 10-year Treasury yield eased to 5.24% after earlier spiking to 5.34%, while the 30-year yield also hovered near multi-decade levels before moderating into the close.
FXStreet noted that lingering inflation concerns tied to elevated energy costs, along with the prospect of higher US interest rates, could limit gold’s upside.
The outlet added that investors are focused on US September employment data, with economists expecting Nonfarm Payrolls of 90,000 job additions versus 162,000 prior, while the unemployment rate is projected to remain unchanged.
Latest closeGold $4,189.00 ▲0.2%