Bengaluru : Gold prices edged down on Friday to near their lowest levels this year, pressured by a firm U.S. dollar amid surging U.S. Treasury yields.
Spot gold was down about 0.1 percent at $1,289.35 per ounce at 0657 GMT, after hitting its lowest since Dec. 27 in the previous session at $1,285.41. The metal was heading for its biggest weekly decline since early December.
U.S. gold futures for June delivery were 0.1 percent lower at $1,288.60 per ounce.
The dollar held near a five-month peak against a basket of currencies on Friday thanks to the benchmark U.S. Treasury yield topping a seven-year high.
"The 10-year U.S. yields put the dollar on a firm foot and put pressure on
metals and gold," said a Hong Kong-based trader, adding that some "risk-on" sentiment in markets today was also adding pressure.
The image shows a poster of Syngenta Pakistan's 'CropWise Grower' mobile application. — Syngenta...
The undated image shows the name of the Bank of Punjab written on one its branches. — APP FileKARACHI: The Bank of...
ABHI, a financial technology company, partners with Soorty Enterprises. — Facebook/ProPakistaniKARACHI: ABHI, a...
This representational image shows Gold bars. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,600...
A currency exchange dealer counting $100 bills. — AFP/FileAs any old-school currencies trader will tell you: buy...
A Pakistan International Airline aircraft takes off in this undated picture. — Radio Pakistan/FileLAHORE: We have...
