Gold Ends Two-Week Losing Streak After Reaching One-Week High

Gold futures ended Friday at a one-week high, breaking a two-week losing streak as investment demand and bargain hunting supported prices despite pressure from higher Treasury yields and a stronger dollar.

The metal posted a weekly gain after two consecutive weekly declines. Persistent inflation pressures and elevated bond yields continued to weigh on gold, limiting the recovery.

The rebound followed a Sept. 28 selloff in spot gold, when the metal fell 4% intraday to $4,113.68 an ounce as the 10-year Treasury yield climbed to 5.27%.

Gold-backed exchange-traded funds were also in focus. Investors have been buying dips and using gold-backed products as hedges against inflation and a decline in the value of fiat currencies.

Higher yields remain a risk for gold because they can make non-yielding assets less attractive. The latest move leaves the metal balancing renewed investment demand against continued pressure from rates, the dollar and inflation.