Gold Holds Steady at $4,500 Amid Dollar Weakness and Hike Uncertainty

Gold prices held steady near $4,500 an ounce on Friday as traders awaited the U.S. jobs report for clues on the Federal Reserve's interest rate decision this month.

The metal gained a 2% jump in the previous session and remained supported by dollar weakness and comments from Fed Governor Christopher Waller that he could support keeping rates steady if inflation continues to ease.

Waller's remarks, made earlier this week, indicated that recent inflation data show signs of disinflation, reducing expectations for a September rate hike. The probability of a hike has fallen to around even odds from roughly 70% earlier in the week.

The dollar's weakness also contributed to gold's stability, with the Japanese yen strengthening nearly 2% on Thursday, making gold cheaper for buyers using other currencies.