Gold is stable as economic worries counter Treasury yields
Gold stabilized on Friday as concerns over an economic crisis caused by the COVID-19 pandemic countered the pressure of rising US Treasury yields on the offer from Federal Reserve Chairman Jerome Powell, for greater tolerance to inflation.
FUNDAMENTALSSpot gold rose 0.1% to $ 1,929.94 an ounce at 0117 GMT, after falling more than 1.2% on Thursday. Gold has fallen more than 0.5% so far this week.