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Gold prices stabilized on Friday, October 7, ahead of a US jobs report that may support investors’ expectations regarding the path of the US Federal Reserve to raise interest rates, and is heading towards the largest weekly increase since March.
By 01:23 GMT, there was little change in gold in spot transactions and it settled at $ 1709.69 an ounce.
Prices rose by about 3% this week, supported by the dollar decline and the Treasury bonds yield, after reaching the highest level in years.
US gold futures settled at $1719.90 an ounce.
The dollar index and the yield on US 10-year Treasury bonds stabilized after rising in the evening.
Investors are now focused on the US non-farm payrolls report due later on Friday, and economists expect 250,000 jobs added last month, compared to 315,000 in August.
As for other precious metals, silver fell in spot transactions 0.4% to $20.56 an ounce.
Platinum fell 0.4% to $918.38 an ounce. And palladium fell 0.6% to $2247.62 an ounce.
