Gold rises but poised to end worst week in two months By


© Reuters.

By Gina Lee – Gold rose in Asia on Friday morning, recovering from its lowest level in more than two months, but was still on track to post its worst week in about two months thanks to the strengthening dollar. . They were up 0.25% to $ 1,795.75 at 10:41 AM ET (3:41 AM GMT), falling below the $ 1,800 mark. On Friday it rose, after reaching a peak of more than two months during the previous session. Long-term US Treasury yields also posted gains, with progress toward passing new US stimulus measures. Senate Democrats favor a massive “vote by branch session”. “to pass the $ 1.9 trillion stimulus package proposed by President Joe Biden. Positive US employment data on Thursday also helped boost investor sentiment. The data indicated that 779,000 were filed in the past week, less than the 830,000 claims predicted in the forecasts produced by and the 812,000 claims reported in the previous week. More data on jobs, included, will be released later in the day. On the central bank front, the Bank of England kept its February interest rate unchanged at 0.10% when it issued its policy decision on Thursday.

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