Gold firms ahead of US jobs data ‎

Gold prices stabilized today, Friday, ahead of a US jobs report that may support investors’ expectations regarding the path of the Federal Reserve (the US central bank) raising interest rates, and is heading towards the largest weekly increase since March.

By 0123 GMT, there was little change in gold in spot transactions, and it settled at $1,709.69 an ounce.

According to “Reuters”, prices rose by about 3% this week, supported by the decline in the dollar and the yield on Treasury bonds, after reaching the highest level in years.

Moreover, 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 percent to $ 20.56 an ounce. Platinum fell 0.4% to $918.38 an ounce, while palladium fell 0.6% to $ 2247.62 an ounce.