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Gold prices jump over 1% as dollar retreat hastens rebound

US gold futures rose 1.4% to $1,775.80

Gold
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TD Securities commodity strategist Daniel Ghali said gold's pull back from Monday's lows was largely driven by technicals

Reuters
Gold rose more than 1% on Friday as a retreat in the dollar enticed investors to snap up the bullion following its recent sell-off. Spot gold rose to $1,772.80 per ounce by 10:26 a.m. EDT (1426 GMT), after hitting its highest in more than a week at $1,774.30, in a sharp recovery from over four-month lows touched on Monday.

US gold futures rose 1.4% to $1,775.80. The dollar index fell 0.4% and U.S. benchmark 10-year treasury yields also weakened, bolstering gold's appeal. Providing further support to bullion was increased physical demand, particularly from top consumers India and China, where premiums rebounded

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