Gold prices up on lower US Treasury yields

Gold prices advanced on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week to look for more signals on the Federal Reserve’s stance on raising interest rates.

By 0628 GMT, spot gold surged 0.3% to trade at $1,769.74 per ounce. US futures also gained 0.5% to $1,785.60 per ounce.

US 10 Treasury yields have fallen from their highest levels in more than a week, reducing the opportunity cost of holders of the non-yielding yellow metal.

Higher interest rates in the United States reduce the attractiveness of non-yielding gold.

As for other precious metals, silver fell 0.1 percent to $ 20.02 an ounce in spot transactions, and platinum fell 0.2 percent to 896.14. While palladium rose 0.3 percent to $ 2022.55.