Gold Holds Ground on US Fed Rate-Cut Hopes, Lower Yields

GOLD - NEW YORK. Gold prices held steady on Friday after a sharp rise in the previous session, buoyed by a dip in U.S. Treasury yields, as investors grew confident the Federal Reserve will lower interest rates in September.

Spot gold was down 0.1% to $2,422.99 per ounce as of 1351 GMT, after a 1.9% rise on Thursday. U.S. gold futures held steady at $2,462.