Gold Prices Hold Steady as Markets Await US Jobs Data

Gold prices held steady on Friday as investors awaited US jobs data for clues on the Federal Reserve's interest-rate path. A stronger dollar and elevated Treasury yields limited the appeal of non-yielding bullion.

Spot gold edged up 0.1% to $4,182.45 an ounce by 00:53 ET (04:53 GMT), while US Gold Futures rose 0.2% to $4,212.05. The yellow metal was on track for a second straight weekly decline, down more than 2% so far this week.

The dollar index, which measures the greenback's value against a basket of six major currencies, edged down 0.2%, but remained near a 17-month high reached in the previous session. It was on track for a 1% weekly rise, making gold more expensive for holders of other currencies.

Markets are focused on the September nonfarm payrolls report, due later on Friday. Economists expect US employers to have added nearly 90,000 jobs, down from 162,000 in August, while the unemployment rate is expected to remain at 4.1%. The Federal Reserve raised its benchmark rate by 25 basis points last month to 3.75%-4.00%, its first hike in three years, and indicated further increases could follow.