Gold Ticks Lower

Gold ticked lower on Friday as a stronger US dollar and higher yields weighed on the market ahead of US jobs data later in the day that could give more clues about further rate increases, Reuters reported. “Both nominal and real rates have been ticking higher and that’s been putting gold under pressure,” said UBS precious metals strategist Joni Teves. Gold has shed about 6% since touching a seven-month peak of $1,295.97 on June 6. Spot gold edged down 0.3% to $1,221.06 per ounce. It has dropped 1.6% this week and is set for its biggest weekly fall since the week of May 5.