Gold declines as US Treasury yields advance

Gold declines as US Treasury yields advance

Picture used for illustrative purpose. File

Gulf Today Report 

Gold slipped on Friday as US Treasury yields gained, but hope for a large US stimulus kept the metal on course for its best week in five.

Spot Gold fell 0.3% to $1,863.56 per ounce while US Gold futures declined by 0.1% to $1,863.90.

Kyle Rodda, IG Market analyst said, "gold is struggling a bit due to a lift in nominal yields, which came off the back of strong US jobless claims number, also the European Central Bank (ECB) came out a little less dovish than the market would like." 

READ MORE