Gold steadied near seven-month lows on Friday as the U.S. dollar and bond yields, which scaled fresh highs this week, took a breather and investors awaited U.S. non-farm payrolls data that could affect the interest rate outlook.
Spot gold was flat at $1,819.60 U.S. per ounce, and was on track to log a second consecutive weekly loss, shedding 1.6% so far. U.S. gold futures firmed 0.1% to $1,834.
Benchmark U.S. 10-year bond yields pulled back from a 16-year peak and the U.S. dollar was off November 2022 highs but remained on track for 12 straight weeks of gains.
Markets await the release of U.S. non-farm payrolls data at 7:30 EDT, following a string of jobs indicators released this week.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings hit the lowest levels since August 2019 on Thursday.
