Gold edged higher on Thursday, set to end its eight-session-long losing streak, last seen around the same time in 2016, as U.S. bond yields and the dollar retreated from recent highs ahead of a keenly awaited non-farm payrolls report this week.
Spot gold rose 0.3% to $1,826.49 per ounce by 0314 GMT, attempting a rebound from its weakest levels since March touched on Tuesday.
Benchmark U.S. 10-year bond yields fell from 16-year highs on Thursday and the U.S. dollar was 0.2% lower, allaying some pressure on non-yielding gold.
SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.5% to 869.31 metric tons on Wednesday, its lowest since August 2019.
The subdued dollar also buoyed other greenback-priced precious metals, with spot silver up 1.1% to $21.19 per ounce, having slipped to its lowest since mid-March this week.
Persons:
Yeap Jun Rong
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U.S ., U.S, CPI, Labor, Wednesday, Benchmark, Trust
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