Gold prices dip slightly as investors await US jobs data
Gold prices edged lower on Friday but remained on track for modest weekly gains, with investors eyeing US jobs data for interest rate signals.
Key Takeaways
AIGold prices slipped on Friday but were set for slight weekly gains, as investors awaited US nonfarm payrolls data for fresh clues on the direction of interest rates.
By 11:37 GMT, spot gold was down 0.1% at $4,467.30 per ounce, while US gold futures dropped 0.6% to $4,513.70.
The precious metal found support after US Federal Reserve Governor Christopher Waller signaled a preference to keep interest rates unchanged in September, provided inflation data continues to show easing price pressures.
Markets are closely watching the US nonfarm payrolls report for further indications on the future path of interest rates.
Other precious metals also declined, with silver falling 0.3% to $66.76 per ounce, platinum down 1.2% at $1,803.99, and palladium losing about 1.1% to $1,405.53.