Gold at Highest Since November as Bond Yields Pare Gains

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Gold last traded at $1,832 an ounce. Silver at $24.27 an ounce.

NEWS SUMMARY: Precious metal prices steadied Friday on normal profit-taking and a weaker dollar. U.S. stocks traded lower as sharp losses in Netflix dragged the Nasdaq Index deeper into correction territory.

Bloomberg/Yahoo Finance--"Gold touched the highest in almost two months, after rallying on easing U.S. bond yields and a weaker dollar.

Treasury yields extended a decline from the highest in two years. Gold nudged higher on Thursday, having broken through a key resistance near $1,835 an ounce on Wednesday.

The decline in yields and a softer greenback both provided support to the metal. Volatility in U.S. equities is also stoking demand for havens, with the S&P 500 suffering its biggest two-day decline since December this week.

Gold has managed to gain this month even as central banks prepare to dial back stimulus and inflation-adjusted bond yields rise....

'$1,820 is the new floor for now, and interest should follow,' Nicky Shiels, head of metals strategy at MKS PAMP, wrote in a note. 'There will, however, be more futures buyers (not sellers) above $1,850, who have currently been flat.'"