Gold steadies ahead of US payrolls data, heads for weekly decline
GLD•Gold was largely steady at $4,181.59 an ounce on Friday but was down more than 2% for the week, with a stronger dollar and elevated Treasury yields weighing on prices ahead of US payrolls data.
1. Gold prices hold steady
Spot gold was at $4,181.59 per ounce by 0833 GMT, while US gold futures edged 0.2% higher to $4,212. Gold was headed for a second consecutive weekly decline.
2. Payrolls report awaited
The September US payrolls report was due at 1230 GMT. Nonfarm payrolls likely increased by 90,000 last month after rising 162,000 in August, a survey of economists showed.
3. Other metals also fall
The US dollar was headed for a weekly gain, and 10- and 30-year Treasury yields reached their highest levels since 2002 on Thursday. Silver rose 0.6% to $61.21, platinum gained 0.7% to $1,735.90 and palladium increased 1.7% to $1,191.20, though all three were poised for weekly losses.
