Gold heads for second weekly loss, eyes on US jobs data

Gold prices were steady on Friday but were set to fall for a second straight week, with focus on US jobs data due later on Friday.

Spot gold was trading at $2,631.60 an ounce by 0022 GMT, down about 0.8% since the start of the week. US gold futures were up 0.3% at $2,654.70 an ounce.

Traders are awaiting the US jobs report for clues on the path to interest rate cuts.

A survey showed that nonfarm payrolls likely increased by about 200,000 jobs in November after rising by about 12,000 jobs in October, the lowest number since December 2020, according to Reuters.