Gold Rises but Heads for Second Weekly Loss

Gold prices rose but remained on course for a second consecutive weekly loss, as a stronger dollar and higher bond yields weighed on the precious metal.

The US currency was heading for a third week of gains. A firmer dollar makes gold more expensive for buyers using other currencies, potentially curbing demand.

Higher bond yields also added pressure by increasing the appeal of interest-bearing assets relative to gold, which offers no yield.

Investors were awaiting US jobs data for clues about the outlook for interest rates. The figures could help shape expectations for monetary policy and influence both the dollar and gold.

Markets were also monitoring tensions in the Middle East, with geopolitical uncertainty remaining a factor in demand for gold as a safe-haven asset.