Gold rises on softer dollar, yields as markets eye US jobs data; silver steadies

Gold extended gains on Monday, supported by a weaker dollar and softer US Treasury yields, as investors looked ahead to key US jobs data for clues on the Federal Reserve’s policy path, while silver steadied after a record-breaking run last week. Spot gold rose 0.4% to $4,320.65 an ounce by 0319 GMT. Bullion has climbed about 64% so far this year. US gold futures gained 0.6% to $4,354.00 an ounce. The dollar hovered near a two-month low hit last week, making bullion more attractive for overseas buyers, while benchmark 10-year US Treasury yields edged lower. “Gold is likely to remain well bid into US non-farm payrolls, as evidence of labour market slack would keep front-end yields capped and the dollar weak, supporting a push toward $4,380–$4,440 after a firm rebound from the $4,243 support zone,” OANDA senior market analyst Kelvin Wong said.