Abu Dhabi:Gold was trading at approximately $4,139 per ounce on Friday, reflecting a nearly 1 percent decline. This decrease came as US Treasury yields rose, putting pressure on the precious metal despite weaker-than-expected employment data from the US.
According to Emirates News Agency, the price of gold had earlier climbed to $4,227, surpassing the $4,200 mark briefly before losing its gains due to the increase in Treasury yields.
The rise in yields has diminished the attractiveness of gold, which does not generate yield, further contributing to its decline in value.