Gold and Silver Gain on Softening US Dollar and Lower Treasury Yields

Gold and silver prices advanced on Thursday, September 3, supported by a pullback in the US dollar and retreating US Treasury yields.

Spot gold rose 1.1% to $4,434.70 per ounce, according to Reuters data, while US gold futures gained 1.5% to settle at $4,480.10 per ounce.

Silver gained 1.2% to trade at $66.08 per ounce. Platinum ticked up 1% to $1,777.79, and palladium climbed 0.8% to $1,356.50 per ounce.

Precious metals drew momentum from lower debt yields ahead of Friday’s key US non-farm payrolls data, which is expected to shape market projections for the Federal Reserve’s interest rate trajectory. Bullion had dipped to a near one-month low earlier in the week before rebounding on easing sovereign bond returns.

N.Tebrizli