Gold reclaims $4,500 as dollar retreats ahead of NFP

Gold advanced towards $4,500 an ounce in Asian electronic trade, drawing support from a softer US dollar ahead of Friday?s pivotal Nonfarm Payrolls report. The bullion market, however, remains caught between competing macro forces, with elevated Treasury yields and a resilient dollar continuing to constrain upside momentum. A softer labour-market reading could catalyse a repricing towards Fed easing, potentially weighing on both the dollar and yields and strengthening gold?s appeal, whereas a stronger payrolls print could reinforce higher-for-longer expectations and exert renewed pressure on bullion. MCX October gold futures climbed more than 1% to ₹1,54,248 per 10 grams, near the day?s high.

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