(Reuters) – Gold prices rose on Friday, as U.S. Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of U.S. non-farm payrolls data, but a strong dollar put bullion on track for a weekly decline.
Spot gold was up 0.2% at $1,935.10 per ounce by 0651 GMT, off a near one-week low hit on Thursday. Bullion prices have declined 1.5% so far this week.
U.S. gold futures rose 0.2% to $1,941.
“It’s a bit of a flight to safety right now that we are seeing in gold, because the stock markets are lower,” said Edward Meir, an analyst at ED&F Man Capital Markets.
“What also could be helping gold is the sharp slide we are seeing in U.S. yields.”