Rand Edges Up Ahead of US Jobs Data as Gold Prices Soar

The South African rand edged up in early trade on Friday, supported by strong gold prices ahead of US non-farm payrolls data.

The rand was trading at 16.34 against the dollar, a 0.2% increase from its previous close, as investors awaited the jobs report for clues on the Federal Reserve's interest-rate path.

Gold prices firmed and were on track for their biggest weekly gain since January, driven by weaker oil prices and hopes of peace in the Middle East, which saw inflation expectations drop.

The US dollar was little changed against a basket of currencies as traders awaited the payrolls data, with economists expecting 80,000 jobs to have been added and the unemployment rate to hold steady at 4.2%.