WASHINGTON (dpa-AFX) - Gold prices rose on Friday, with futures hitting a fresh record as weak manufacturing data as well as mixed tech earnings sparked worries about a U.S. recession.
Spot gold climbed 0.7 percent to $2,462.91 per ounce, while U.S. gold futures were up 1.1 percent at $2,507.30.
The dollar index fell on economic concerns after data showed U.S. manufacturing activity contracted sharply in July and weekly jobless claims jumped to an 11-month high, heightening concerns about a potential recession and worries that the Federal Reserve might be slow in cutting interest rates.
U.S. Treasury yields continued to slide, boosting bullion's safe-haven demand appeal.
The 10-year yields hit a fresh six-month low in Asian hours today on economic worries.
All eyes now remain on the U.S. payrolls data, due later in the day that could shed some more light on the state of the economy and the Fed's rate path.
Bond traders currently price in three interest-rate cuts from the Federal Reserve this year as inflation cools and growth slows.
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