www.expertcommodity.com Gold Prices Slip but Trades Near 10-week High; Dollar Unchanged

 Gold prices slipped on Friday but hovered near 10-week high after gaining 3% in the previous session, its biggest one-day gain in more than two years.


9759717061(Ankita Sharma)
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December Gold Futures slipped 0.3% and traded at $1,224.30 on the COMEX division of the New York Mercantile Exchange by 1:48 AM ET (05:48 GMT).

Gold prices recorded its largest daily percentage gain on Thursday since June 2016 as global stock markets extended losses. Fears over rising bond yields also drove traders toward safe-haven assets.

However, analysts expect rising interest rates would likely remain a concern for gold prices. Interest rate increases and higher U.S. bond yields dampen appeal for gold, which offers no yield. They also tend to boost the dollar.

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