Gold declines to $4,161.58 amid second week of losses
Gold prices today, Friday, decreased by 0.4% to reach $4,161.58 per ounce, marking a weekly decline of approximately 3%. This downturn was driven by the strengthening US dollar and rising US Treasury yields, which have reached their highest levels since 2002. Investors are awaiting the US employment data for September to gauge the Federal Reserve's future monetary policy stance, with little likelihood of interest rate hikes this month. This expectation puts downward pressure on non-yielding gold. Additionally, prices of other precious metals such as silver and platinum declined, while palladium prices rose.
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