“A deterioration in U.S. labour market data, falling bond yields and continued geopolitical tensions continue to support gold,” said National Australia Bank economist John Sharma.
“We see gold trading between $1,920 and $1,980 in the near term,” he said, adding that factors such as rising risk sentiment and progress on the coronavirus vaccine front could dent demand.
A technology stocks-fuelled rally on Wall Street drove Asian markets higher on Friday, limiting gold’s advance.
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