Gold hovers near unchanged early Friday, after posting its biggest one-day gain in about a month.
Gold futures hovered near unchanged early Friday, after posting its biggest one-day gain in about a month as Treasury yields and the U.S. dollar retreated.
... Gold futures hovered near unchanged early Friday, after posting its biggest one-day gain in about a month as Treasury yields and the U.S. dollar retreated. The pullback in yields was seen giving gold some breathing room. Rising yields raise the opportunity cost of holding nonyielding assets, but skeptics questioned whether the respite would last.
The ICE U.S. Dollar Index DXY , a measure of the currency against a basket of six major rivals, was headed for a 1.6% retreat this week after trading at a 20-year high earlier this month. A stronger dollar can also be a headwind for commodities priced in the unit, making them more expensive to users of other currencies.
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