Gold prices increased their weekly loss to over 3% as the dollar gained value and bond yields rose.

Spot gold prices decreased on the last trading day of the week. While the appreciation of the dollar and the rise in US Treasury bond yields put pressure on gold prices, the markets' eyes turned to the non-agricultural employment data to be announced by the USA.

Gold Type Gold Price Gram gold 6.596 TL Quarter gold 10.832 TL Republic gold 43.194 TL Ounce gold 4.173 dollars Half gold 21.660 TL Full gold 42.859 TL Gremse gold 107.476 TL

WEEKLY LOSS IN GOLD EXCEEDED 3 PERCENT

While spot gold decreased by 0.6 percent to $4,154.78 per ounce, the weekly loss exceeded 3 percent. US gold futures contracts also decreased by 0.4 percent to $4,184.

The weekly appreciation of the dollar makes gold priced in dollars more expensive for investors using other currencies.

Yields on US Treasury bonds also continued to rise. 10- and 30-year bond yields hit their highest levels since 2002 on Thursday.

MARKETS FOCUSED ON US EMPLOYMENT DATA

Capital.com Senior Financial Market Analyst Kyle Rodda stated that markets are closely following US interest rate expectations and geopolitical developments in West Asia.

Rodda stated that US non-farm employment data is critical for the Fed's interest rate policy. He said that strong employment data could increase the pressure on gold by supporting interest rate hike expectations.

US non-farm employment data for September will be announced at 15.30 GMT.

INTEREST INTEREST EXPECTATIONS FOR THE FED HAVE CHANGED

Data released on Wednesday revealed that inflation in the US rose below expectations in August and that price pressures for the previous month were more moderate than previously reported.

The expectation in the markets that the Fed will raise interest rates this month decreased to 25 percent from approximately 70 percent at the beginning of the week. The probability of an interest rate increase in December is priced at 79 percent.

Fed officials also gave messages throughout the week that more economic data should be seen before deciding on a new interest rate increase.

DEVELOPMENTS IN WEST ASIA ARE BEING FOLLOWED

Geopolitical developments in the gold market are also closely monitored. It has been reported that Iran is preparing to give a more comprehensive and strong response if the USA restarts large-scale military attacks, but it also continues its diplomatic initiatives.

DECLINE IN SILVER AND PLATINUM

Other precious metals also decreased. Spot silver decreased by 0.5 percent to $60.53, and platinum decreased by 0.4 percent to $1,716.93.

Palladium increased by 0.1 percent to $1,172.80. Silver, platinum and palladium are all set to end the week with losses.