Gold was broadly flat in spot trading on Friday but on course for its strongest weekly performance since January, supported by a softer dollar and persistent uncertainty over US interest rate policy.
Spot gold held at $4,235.57 per ounce, having gained 4.8 per cent across the week. US gold futures slipped 0.1 per cent to $4,293.80.
Investors are watching US non-farm payrolls data closely, looking for signals on the Federal Reserve’s rate path. Lower interest rates tend to benefit gold by reducing the opportunity cost of holding a non-yielding asset.
Among other precious metals, silver fell 0.4 per cent to $61.26 per ounce in spot trade. Platinum dropped 0.5 per cent to $1,720.75, and palladium also declined 0.5 per cent to $1,363.50.
