Prices for gold gained ground on Friday but looked set for a third straight weekly loss as the U.S. dollar and Treasury yields rallied on a hawkish U.S. Federal Reserve stance.
Spot gold rose 0.5% to $1,886.16 U.S. per ounce but was still down about 0.6% for the week. U.S. gold futures climbed 0.6% to $1,886.8.
The dollar was headed for a fifth winning week as benchmark U.S. Treasury yields held near their highest levels since November 2018.
Investors on Friday reviewed U.S. non-farm payrolls, which grew by 428,000 in April, according to the Bureau of Labor Statistics. The figure was more than the Dow Jones estimate of 400,000.
The Fed on Wednesday raised its benchmark rate by half a percentage point, the most in 22 years.
Equities tumbled as investors expressed concerns that rising interest rates could hurt global economic growth.
