By Gina Lee
Investing.com – Gold was up on Friday morning in Asia but is set for its biggest yearly decline in six years.
were up 0.26% to $1,818.75 by 9:59 PM ET (2:59 AM GMT). The , which normally moves inversely to gold, inched up on Friday. Benchmark 10-year U.S. Treasury yields fell from one-month highs on Thursday.
The yellow metal has fallen 4% so far in 2021 and is on track for its biggest annual decline since 2015, as global economies continue to recover from the impact of COVID-19. This is despite the continual surge in COVID-19 cases involving the omicron variant.
Benchmark 10-year U.S. Treasury yields fell from one-month highs on Thursday, but there were no major catalysts and many traders are already on holiday.
Asia Pacific stocks were mostly up on Friday morning, following better-than-expected and for December and a rally in U.S.-listed Chinese equities.
The manufacturing PMI was 50.3 and the non-manufacturing PMI was 52.7, with both indexes exceeding expectations and remaining above the 50-mark indicating growth.
Meanwhile, U.S. data released on Thursday showed that in the U.S. fell to 198,000 last week.
In other precious metals, silver and platinum were up 0.3%, while palladium fell 0.5%. Silver is set for its worst year since 2014 with a drop of about 12%. Platinum tumbled nearly 10% and palladium was headed for its biggest annual decline since 2015 with a 20% slump.
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