Gold Rises but Heads for Second Weekly Loss

Gold edged higher but remained on course for a second consecutive weekly decline, under pressure from a stronger dollar and rising bond yields.

The US currency was heading for its third straight week of gains. A stronger dollar makes gold more expensive for buyers using other currencies, weighing on demand.

Higher bond yields also reduced the appeal of gold, which pays no interest, as investors assessed the outlook for interest rates.

Attention was turning to US jobs data for clues on the likely path of monetary policy. The figures could influence expectations for interest rates and, in turn, the direction of gold prices.

Investors were also monitoring tensions in the Middle East, keeping geopolitical risks in focus alongside the economic data.