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Gold prices rose after a 30-year US Treasury bond auction saw strong demand, which helped long-term bond yields retreat from their highest levels in more than two decades.
The precious metal rose by more than 1 percent to trade near $4180 per ounce, recovering from a two-month low it recorded earlier this week, according to Bloomberg.
US gold futures also rose by 1.1 percent to $4202, as investors await developments in inflation and the path of US interest rates.
Gold rose 1.1 percent to $4179.56 per ounce by 10:57 AM Singapore time. Its rise came as the dollar's rally paused, making the dollar-denominated metal more attractive to holders of other currencies. US 10-year Treasury yields also fell for the second consecutive session, which supported gold, which does not yield a return.
Gold had recorded its lowest level in two months on Wednesday, after being pressured by the strength of the dollar and rising US Treasury yields.
Silver rose 1.8 percent to $60.24 per ounce, platinum rose 1.4 percent to $1656.30, and palladium increased 1.1 percent to $1135.25, despite the three metals heading for weekly losses.
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