Gold Prices Sink Ahead of US Jobs Report Amid Weakening Hike Expectations

Gold prices declined in Friday's trading as investors waited for US nonfarm payrolls data to gauge the future path of the Federal Reserve's monetary policy.

The dollar index rose by 0.15% to 99.04 points, signaling increased value of the US currency against a basket of six major currencies.

Market expectations for a September interest-rate hike decreased following comments from Federal Reserve Governor Christopher Waller, who stated that he supports keeping monetary policy unchanged if data continues to show easing inflationary pressures.