Gold price slides as yields climb and the dollar firms; U.S. jobs report in focus
Gold slipped 1.2% to $5,076.59 an ounce by 1:32 p.m. ET Thursday, erasing earlier advances as rising U.S. Treasury yields and a stronger dollar undercut safe-haven demand tied to the Middle East war. Prices had climbed as high as $5,194.59 during the session. U.S. gold futures for April delivery closed off 1.1% at $5,078.70. “Usually aren’t great for gold,” TD Securities’ Bart Melek said of the higher yields. Bullion had surged to a record $5,594.82 on Jan. 29 and briefly cleared $5,400 on Monday. Elsewhere, silver dropped 1.8% to $81.91, platinum slipped 1.1% to $2,125.10, and palladium skidded 2.4% to $1,634.15.
