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Gold Prices Hold Steady Ahead Of US Jobs Report


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Gold prices were little changed on Friday after three consecutive sessions of gains.

Prices slipped from four-month highs as traders booked some profits ahead of the U.S. monthly employment report for November, due out later in the day.

Spot gold slipped 0.1 percent to $1,801.53 per ounce, while U.S. gold futures were little changed at $1,814.7.

Economists expect U.S. employment to jump by 200,000 jobs in November after an increase of 261,000 jobs in October. The jobless rate is expected to hold at 3.7 percent.

A cool-off in employment figures would be a welcome sign for Federal Reserve officials who have more work to do in tightening policy.

The dollar held firm but was pinned down near 16-week lows against a basket of currencies after a slew of data released overnight painted a mixed picture of the world’s largest economy.

While U.S. manufacturing activity shrank for the first time in 2-1/2 years in November, consumers’ incomes and expenditures increased in October and first-time unemployment benefits declined during Thanksgiving week, separate reports showed.

A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October.

*Eurozone Oct Producer Prices Up 30.8% Annually Vs. 41.9% In Sep, Consensus 31.5%

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