(RTTNews) – Gold prices were little changed on Friday as a drop in US Treasury yields eased pressure from a stronger dollar.
Spot gold was marginally down at $5,180.52 an ounce, while US gold futures rose 0.1 per cent to $5,197.16.
The US dollar declined but posted monthly gains on heightened geopolitical tensions in the Middle East and elsewhere.
Concerns remain over possible US military action involving Iran after diplomatic efforts between the United States and Iran aimed at reducing tensions over Tehran’s nuclear program ended without a deal on Thursday.
After the meetings in Switzerland, an Omani mediator involved in the talks said the talks had led to understanding on some issues and the next round of talks would be held in Vienna next week.
Elsewhere, Pakistan has declared open war against Afghanistan, and launched Operation Ghazab Lil Haq with widespread air strikes on Taliban positions in Kabul, Kandahar and Paktia amid fierce border clashes.
In economic news, US Producer Price Index data will dominate the headlines later in the day amid tariff uncertainty and slowing economic momentum.
On Thursday, a report released by the Labor Department showed a slight increase in first-time claims for U.S. unemployment benefits in the week ending Feb. 21.
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