Gold posts weekly decline as surging Treasury yields and hawkish Fed rate bets weigh

Gold futures snapped a four-session losing streak on Friday but finished the week down roughly 2.5%, trading near $4,266 per ounce after touching a weekly low of $4,244. The non-yielding precious metal came under heavy selling pressure as the U.S. 10-year Treasury yield surged toward 5.2% and the U.S. Dollar Index held above 101.00. The bond sell-off and dollar rally gathered momentum following robust U.S. economic data, including a flash composite PMI of 58.4, and hawkish rhetoric from Federal Reserve officials, which elevated expectations for another interest rate increase.