Gold trending higher through the week, largely driven by weaker US Treasury yields. As it approached a two-week high, it was short of the May 10 record. But the positive performance has opened the question of whether the yellow metal can hit new record highs in the near future. US yields were lower in the lead-up to NFP, as the broad consensus was that the jobs numbers would show continuing loosening in the labor markets. That would be a predicate for the Fed being inclined to ease, as it would be less worried about a rebound in inflation. The market is still pricing in no rate hike at next week’s FOMC meeting, with ... (full story)