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Gold Prices Mixed Ahead Of US Jobs Data


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Gold prices were mixed on Friday after falling from a six-month in the previous session to snap a four-session winning streak.

Spot gold edged up 0.1 percent to $1,834.43 per ounce, while U.S. gold futures slipped 0.1 percent to $1,838.95.

The dollar held near an almost one-month high today after strong ADP private payrolls data and weekly jobless claims figures provided further evidence of a tight labor market and dashed hopes for a change to aggressive Fed policy anytime soon.

U.S. Treasury yields were mixed after rising the previous day as Fed members Esther George and James Bullard said that interest rates will stay higher for longer to tame inflation.

Focus shifted to the monthly U.S. jobs report due later in the day that could provide additional clues on how aggressive the Federal Reserve will be in tightening policy.

Economists currently expect U.S. employment to jump by 200,000 jobs in December after an increase of 263,000 jobs in November. The unemployment rate is expected to hold at 3.7 percent.

Traders will also keep an eye on reports on U.S. service sector activity and factory orders for clues to future economic trends.

*Eurozone Dec Retail Sales Rise 0.8% On Month Vs. -1.5% In Nov, Consensus +0.5%

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*Eurozone Dec Economic Confidence 95.8 Vs. 94.0 In Nov, Consensus 94.7

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