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The benchmark 10-year Treasury yield hit its highest since May 2024 yesterday, impacting bullion's rise
Factors that may support gold prices include stronger central bank demand or rapid deterioration of financial conditions
Traders are awaiting the release of the U.S. jobs report on Friday for additional insight into the Fed's interest rate outlook
Major central banks will likely increase gold purchases in 2025, further boosting demand for the precious metal
22-carat gold stood at AED 292.25, 21-carat gold was priced at AED 283, while 18-carat gold was at AED 242.50
Gold prices have risen over 27 percent this year and are set for their best performance since 2010
Gold prices have surged nearly 28 percent this year, reaching a record high of $2,790.15 on October 31
The dollar index dipped 0.09 percent to 108.16, making bullion more attractive for other currency holders
Brent oil futures increased by 0.2 percent, reaching $73.71 a barrel
Gold prices have lost around 2 percent so far this week
In the last week, the world's largest cryptocurrency lost 0.10 percent of its value
Since the November 5 election, Bitcoin has surged more than 50 percent
