Gold prices jumped more than 1% on Friday en route a weekly gain, as the dollar eased, while investors anticipated a U.S. jobs report later in the day that could shed more light on Federal Reserve’s rate-hike path.
Spot gold rose 1.3% to $1,649.89 U.S. per ounce, and was up 0.4% for the week so far. U.S. gold futures gained 1.3% to $1,652.60.
The dollar index fell 0.5%, making gold more appealing for other currency holders.
Data on Thursday showed number of Americans filing new claims for unemployment benefits unexpectedly fell last week. All eyes are now on U.S. non-farm payrolls data for October due at 8:30 EDT.
A Reuters survey showed nonfarm payrolls likely increased by 200,000 jobs last month after rising 263,000 in September.
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