Abu Dhabi:Asian Markets Gold prices increased by over 1 percent in Asian trading on Friday, buoyed by a decrease in the US dollar, Treasury yields, and oil prices, as investors looked for more guidance on US interest rates.
According to Qatar News Agency, spot gold rose 1.1 percent to reach $4,177.44 per ounce, with US gold futures seeing a similar increase to $4,202 per ounce.
The rise in gold was mirrored by other precious metals, with silver up 1.4 percent to $60.16 per ounce, platinum increasing by 2.6 percent to $1,676.67, and palladium climbing 2.8 percent to $1,154.70. Despite these gains, silver, platinum, and palladium were all expected to end the week with overall losses.
The dollar's recent rally came to a halt, and US 10-year Treasury yields declined for the second straight session. This situation enhanced gold's attractiveness to investors holding other currencies.
