Gold poised to post a weekly loss as Dollar gains ground against bullion

The gold market has been seeing some two-way price action of late. After hitting close to $2,000 last month on geopolitical worries, Gold is poised for its first weekly loss in nearly a month as safe-haven demand cools ahead of today’s key US jobs data.

Gold edged higher intraday but eased from recent highs as demand has not tempered ahead of today’s key U.S. nonfarm payrolls report. Spot gold was last up 0.2% at $1,989.50 an ounce.

From the start of the week, the yellow metal is down around 1%, retreating from the multi-year high of $2,000/oz marked last month amid escalating Mideast tensions.