KONTAN.CO.ID - JAKARTA. Gold prices rose back towards the previous session's four-week high on Tuesday, supported by a weaker dollar and a fall in U.S. Treasury yields, as investors awaited August U.S. non-farm payrolls data due later this week. Spot gold was up 0.2% at $1,813.16 per ounce by 1133 GMT, after hitting its highest since Aug. 4 on Monday at $1,822.92. U.S. gold futures rose 0.2% to $1,816.10. "We have tailwinds from the dollar, which has weakened further, and softer yields. But against that the gold market has struggled to challenge a key area of resistance around $1,830-$1,835/oz," Saxo Bank analyst Ole Hansen said.
Gold prices edge back towards 1-month peak as dollar, yields slip
KONTAN.CO.ID - JAKARTA. Gold prices rose back towards the previous session's four-week high on Tuesday, supported by a weaker dollar and a fall in U.S. Treasury yields, as investors awaited August U.S. non-farm payrolls data due later this week. Spot gold was up 0.2% at $1,813.16 per ounce by 1133 GMT, after hitting its highest since Aug. 4 on Monday at $1,822.92. U.S. gold futures rose 0.2% to $1,816.10. "We have tailwinds from the dollar, which has weakened further, and softer yields. But against that the gold market has struggled to challenge a key area of resistance around $1,830-$1,835/oz," Saxo Bank analyst Ole Hansen said.