Gold climbed 2.3% to $4,170 as U.S. Treasury yields eased and the dollar traded broadly lower. The metal is now eyeing $4,200 as its next technical level, with traders turning to Friday's US jobs report for further direction.
Gold rose 2.3% to $4,170, gaining as U.S. Treasury yields eased and the dollar held a little lower on the day, according to a market wrap from investingLive.
Yields eased too: the 10-year Treasury yield slipped 1.6 basis points to 4.61%, one of the cooling signs the report said would help support the broader risk mood, a shift that coincided with gold's advance.
The dollar's dip extended to other pairs, with the euro up 0.1% to $1.1545 and USD/JPY down 0.1% to 157.55 — though how the pair trades next remains uncertain following a joint intervention by the US and Japan.
Whether gold can break above $4,200 and start a sustained upside trend is still an open question, the report said.
Traders are now turning to Friday's US jobs report, with ADP employment data due out later today, the report added.
Source: Investinglive
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