Gold futures posted a modest gain on Friday, with prices for the front-month contract up 1.4% for the week, according to Dow Jones Market Data. “When you have a cooling in jobs data, combined with the expectation that the [Federal Reserve] will reconsider another rate hike this month, you’d expect gold prices to rise,” said Adam Koos, president at Libertas Wealth Management Group. “However, this same fundamental data is causing a pullback in bonds and a spike in Treasury yields, which is creating a tug-of-war between gold and the ancillary players that affect prices,” he said. December gold GCZ23, +0.02% edged up by $1.20, or nearly 0.1%, to settle at $1,967.10 an ounce on Comex after trading as high as $1,980.20.
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