Gold quotes stabilize amid declining US bond yields

Gold quotes stabilized on Thursday amid a decline in US government bond yields. Investors are also showing caution in anticipation of data on non-agricultural jobs in the United States, which could provide insight into the Fed's further rate hike trajectory.

Report informs that the spot price of gold remained at $1,767.39 per ounce. In US trading, gold futures rose 0.4% to $1,783.90 an ounce.

The 10-year US Treasury yield has retreated from a one-week high.

Meanwhile, the US dollar continues to trade at the highs of the week, limiting the growth of gold quotes.

Earlier this week, Fed officials signaled a continued commitment to raising interest rates to levels where they would more effectively curb inflation at its highest level since the 1980s.

Raising interest rates reduces the attractiveness of gold, which does not bring interest.

Following the release of two strong US economic reports this week, investors' attention is focused on Friday's jobs report, which could shed light on the Fed's prospect of tightening monetary policy to combat persistent inflation.

Spot silver was down 0.4% to $19.97 an ounce, platinum was down 0.2% to $896 an ounce and palladium was down 0.3% to $2,011.42 an ounce.