Gold Gains on Weak US Jobs Data, ETF Demand Resilient Despite Surging Bond Yields
GOLD PRICES rose on Friday after the weaker-than-expected US jobs report pushed bond yields and the Dollar lower. Despite long-term US interest rates remaining near multi-decade highs amid concerns over elevated government debt levels, gold has continued to trade at historically high levels, supported by resilient investment demand, including continued inflows into gold-backed ETFs, writes Atsuko Whitehouse at BullionVault.
GOLD PRICES rose on Friday after the weaker-than-expected US jobs report pushed bond yields and the Dollar lower. Despite long-term US interest rates remaining near multi-decade highs amid concerns over elevated government debt levels, gold has continued to trade at historically high levels, supported by resilient investment demand, including continued inflows into gold-backed ETFs, writes Atsuko Whitehouse at BullionVault.
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