Gold steady as drop in US Treasury yields offsets firm dollar

Gold was broadly steady on Friday, as a drop in US Treasury yields eased the opportunity cost of holding bullion, offsetting a firm dollar and signs of progress in US-Iran talks. Spot gold held at $5,184.69 per ounce by 0301 GMT. Gold was set for its seventh straight month of gains, rising more than 6% in February, as US tariff uncertainty and mounting US-Iran tensions boosted its safe-haven appeal. US gold futures for April delivery were up 0.2% at $5,201.40. “Ten-year US Treasury yields after subtracting inflation, so the real yield has plummeted and that actually is currently a supporting factor, allowing gold to hold steady regardless of the risk premiums ticking down yesterday after US-Iran talks,” said Kelvin Wong, a senior market analyst at OANDA.