09:20 AM EST, 11/06/2025 (MT Newswires) -- Gold traded higher early on Thursday as the dollar fell off a six-month high and treasury yields retreated.

Gold for December delivery was last seen up US$31.70 to US$4,024.60 per ounce.

The price of the metal has traded near $4,000 per ounce since touching a record high of $4,359.40 on Oct. 20, failing to retest the record after the Federal Reserve signaled it will pause the interest-rate cuts that have backed gold's rise this year.

The expected Fed pause has supported the dollar, which on Wednesday rose to the highest since May 19, and pushed treasury yields higher, both bearish notes for the precious metal. However both the dollar and treasuries moved down early following Wednesday's ADP Report that showed a stronger than expected rise in private-sector hiring. The report showed a gain of 42,000 jobs in October, up from a prior month drop of 29,000 jobs and ahead of expectations for a gain of 22,000, according to Marketwatch.

"The stronger-than-expected ADP report was balanced enough to imply cooling labour demand without pointing to a sharper downturn," Saxo Bank noted.

The dollar fell off the highest since May 19, with the ICE dollar index last seen down 0.39 points to 99.82. Treasury yields were also lower, with the yield on the U.S. two-year note last seen down 5.0 basis points to 3.588%, while the 10-year note was paying 4.113%, down 4.8 points.