Gold drops as firm dollar and bond yields weigh

Spot gold slipped 0.6% to trade at $4,154.78 per troy ounce as of 06:05 Baku time on Friday, driven lower by a firmer greenback and elevated US Treasury yields. US gold futures dropped 0.4% to settle near $4,184 per ounce.

The precious metal is down over 3% since the start of the trading week, on track to post a second consecutive weekly loss. Market sentiment remains pressured as investors adopt a cautious posture ahead of pivotal US non-farm payrolls data, which is anticipated to shape expectations regarding the Federal Reserve's monetary policy and rate-cut trajectories.

N.Tebrizli