Forex
Gold Prices Stabilize Ahead of Key US Jobs Report
Gold prices held steady on Friday as investors awaited highly anticipated U.S. payrolls data for clues on the Federal Reserve's next interest rate decision.
The precious metal had fallen over 2% earlier in the day after stronger-than-expected U.S. jobs data boosted expectations that the Fed could raise interest rates this month, denting gold's appeal as a non-yielding asset.
Spot gold slipped 2.2% to $4,376.04 an ounce on pace for a weekly decline of 1%. U.S. gold futures for December delivery dropped 2.4% to $4,428.80 per ounce.