BENGALURU: Gold prices fell on Friday, pressured by a recovery in the US dollar and optimism over progress in trade talks between the US and the EU.
Spot gold was down 0.5 percent at $3,350.08 per ounce, as of 11:20 a.m. Saudi time. US gold futures fell 0.6 percent to $3,351.70.
The US dollar index rebounded from more than a two-week low, making bullion more expensive for overseas buyers, while benchmark 10-year US Treasury yields rose.
A resurgence in risk appetite driven by optimism over potential tariff negotiations, and better-than-expected jobless claims reinforcing the view that the US Federal Reserve is unlikely to cut rates, is pressuring gold, said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades.
“There is an element of uncertainty that still lingers ... with a strong support around $3,300, I see the potential for gold prices to rise should new episodes of volatility be triggered,” he said.
