Bullion posts biggest weekly gain since mid-August
After having its best week since mid-August, gold in Asia increased as the falling value of the dollar provided some solace for the precious metal.
Lower Treasury yields also contributed to the bullion’s first weekly gain in three days on Friday, which increased demand for the interest-free metal.
US employment data could trigger volatility.
Gold hit a two-year low earlier this week as a result of rising USD and Treasury yields, but this might be confirmed by further volatility in the wake of this week’s US employment report.
Following a 1% increase last week, spot gold increased by 0.2% to $1,663.51 per ounce in Singapore. The Bloomberg Spot Dollar Index increased by 0.1%.