Gold Holds Steady Amid Rising Rate Hike Prospects

Gold prices held steady near $4,430 an ounce on Friday, after stronger-than-expected US payrolls data raised the prospects for an interest-rate hike as early as next week.

The US job growth surged in August and the unemployment rate remained steady, according to numbers published on Friday. This bolstered the argument for raising rates at the Federal Reserve's September 15-16 meeting.

A gauge of the dollar rose, making gold priced in the US currency more expensive for many buyers. Traders also increased their bets on a rate hike in September, pricing in a roughly 60% likelihood versus an even chance earlier in the session.