Gold finishes in red for 2nd straight session

Gold bars

Gold prices finished in the red for the second session in a row today, Jan. 6, as the US 10-year Treasury bond yields gained ground, with markets eyeing this week’s release of key US economic data.

February gold futures ended down by 0.25%, or $7.30, to $2,647.40 per ounce.

Likewise, the US dollar index, which gauges the greenback's strength against a basket of six currencies, plummeted by 0.65% to 108.22 points at 11:13 pm Makkah time.

US President-elect Donald Trump is scheduled to take office on Jan. 20. The tariffs and protectionist policies he proposes for trade are seen to elevate inflation and raise uncertainty about the path of the Federal Reserve's monetary easing policy.

Markets are awaiting the release of the US monthly jobs report on Friday, following Wednesday’s announcement of the minutes of the Fed’s last meeting. This is to assess the outlook for US monetary policy.