Gold ends in green as US bond yeilds slump

Gold bars

Gold prices extended their gains at settlement today, Jan. 9, hitting the highest level in nearly four weeks, as US Treasury bond yields declined as investors absorbed recent economic data that showed monetary tightening has taken a toll on the US labor market.

February gold futures rose by 0.7% or $18.4, to close at $2,690.80 per ounce, after touching $2,696.80 in early trading, the highest level since Dec. 13, 2024 ($2,716.4).

This came as the US dollar index, which gauges the greenback's strength against a basket of six currencies, settled at 109.16 points on Friday morning at 01:19 am Makkah time.

US layoff plans rose 5.5% to 761,358 in 2025, according to data from Challenger, Gray & Christmas, with hiring plans falling to their lowest level since 2015.

Investors are awaiting the US Labor Department's monthly jobs report on Friday for a clearer picture of the labor market, with expectations the economy added 154,000 jobs in December 2024, compared with 227,000 in the month before.