Gold holds gains as yields fall and U.S. rate hike eyed

Gold maintained its limited gains amid a decline in U.S. Treasury yields and signals from the Federal Reserve indicating their need for more time to consider raising interest rates, despite rising energy costs resulting from escalating tensions in the Middle East. Gold was traded around $4,180 per ounce, recording a slight profit but heading for a weekly decline of nearly 2%. The pullback in U.S. Treasury yields, especially the 10-year notes, boosted demand for safe havens. Meanwhile, market fluctuations caused by rising oil prices and increased regional tensions continue to exert pressure on gold prices, preventing a significant upward movement.

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