Gold heads toward consecutive weekly decline

Amid current economic developments in global financial markets, yellow metal prices are heading toward registering a weekly loss for the second consecutive time, under direct pressure from the rising value of the US dollar and surging Treasury bond yields. Meanwhile, investors are cautiously anticipating the release of key US employment data that may determine future trends. Gold was recorded in spot transactions on the morning of Friday, October 2, 2026, at 4189 dollars per ounce by 08:40 Baghdad time, while the precious metal's total losses since the beginning of the current week reached over 2 percent.