Gold prices rose on Friday as a slightly weaker U.S. dollar and a pullback in global equities lifted demand for the safe-haven metal, while investors awaited the release of U.S. non-farm payrolls data for August.
Spot gold was up 0.4% at $1,937.84 U.S. per ounce early Friday morning, after falling to a near one-week low on Thursday. Bullion has declined 1.5% so far this week.
U.S. gold futures rose 0.2% to $1,942.20.
The head of the Chicago Federal Reserve on Thursday called on the Congress to deliver more fiscal aid and signaled U.S. monetary policy would be eased further and interest rates kept at ultra-low levels for years to help the economy recover its pre-pandemic strength.
Lower interest rates decrease the opportunity cost of holding non-yielding bullion.
More than 26.15 million people have been reported to be infected by the novel coronavirus globally and 863,863 have died.
Investors await U.S. non-farm payroll figures due this morning for further signs of labour market stagnation.
Silver gained 1.1% to $26.92 U.S. per ounce, platinum rose 0.6% to $894.97 U.S. and palladium climbed 0.5% to $2,295.98 U,S.
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