Gold trades around $4,139 as US Treasury yields rise

Gold was trading at around US$4,139 an ounce at the time of publishing on Friday, down nearly 1 percent, as rising US Treasury yields weighed on the precious metal despite weaker-than-expected US employment data.

The precious metal had climbed as high as $4,227 earlier in the session, briefly moving above the $4,200 mark before surrendering its gains as Treasury yields moved higher.

Gold remained under pressure as higher yields reduced the appeal of the non-yielding precious metal.