Today, Friday, gold prices are heading towards recording its first weekly decline in three weeks in light of the rise in the US dollar.
There was little change on gold in immediate trading, to settle at $ 1727.10 an ounce, by 07:45 GMT. While US gold futures rose 0.1 percent to 1726.30 dollars an ounce.
Brian Lan, a forum member at Gold Silver Central, said: “The strength of the dollar certainly restrains gold, and at the present time the Treasury yields have decreased a little. This is supposed to be positive for gold technically.”
He added, “People simply do not move and wait to see what will happen, and capital flows will continue to return to gold as a safe-haven asset, especially if returns decline.”
Higher yields on Treasury bonds generally increase the opportunity cost of holding the yellow metal that yields no return.
As for other precious metals, silver rose 0.5 percent to $ 25.15, to consolidate above its lowest level in more than two months of $ 24.39 an ounce, which it recorded on Thursday.