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Gold edges higher as softer rate bets weigh on bond yields
Gold is trading in its recent range despite the US Dollar hitting a fresh April 2025 high.
Gold prices edged higher in the early European session but stayed within a familiar range over the past week, as shifting rate expectations and mixed economic signals pulled markets in different directions, according to FXStreet.
FXStreet reported that receding bets for an October Federal Reserve rate hike lowered US bond yields from multi year highs, providing support to gold, while a stronger US dollar capped gains.
The move also followed US Nonfarm Payrolls data showing the economy added 29K jobs in September, down from a previous month that was revised downward to 133K, and consensus expectations of 90K.
FXStreet said the unemployment rate rose to 4.2% from 4.1% in August and annual wage growth slowed to 3.0% in September, matching the lowest pace since May 2021, helping ease pressure on the Fed even as the dollar remained firm.
Latest closeGold $4,172.10 ▼0.7%