09:19 AM EDT, 08/09/2024 (MT Newswires) -- Gold prices rose early on Friday, climbing for a third-straight day as treasury yields eased and the dollar steadied.

Gold for December delivery was last seen up US$4.30 to US$2,467.60 per ounce.

The precious metal is continuing to recover from a 2% drop in the first three session in August after a weak U.S. jobs report on Monday and a hike to Japanese interest rates sparked a widespread drop in equity and commodity markets.

"The recent correction was driven by forced reductions following an across-market volatility spike, and not a change in the outlook [for gold] which in our opinion remains supportive," Saxo Bank noted.

The dollar was steady early, with the ICE dollar index last seen up 0.02 points to 103.24.

Treasury yields weakened, lowering the carrying cost of owning gold. The U.S. two-year note was last seen at 4.03%, down 2.0 basis points, while the yield on the 10-year note was down 6.0 basis points to 3.937%