Gold prices edge higher ahead of US payrolls data
Gold prices edged up on Friday, while investors braced for U.S. payrolls data that could provide further clues about the Federal Reserve's interest rate outlook.
Spot gold rose 0.2% to $2,748.40 per ounce, as of 0756 GMT. Prices ended lower on Thursday after hitting a record high of $2,790.15.
U.S. gold futures rose 0.4% to $2,758.70.
The Nov. 5 election has entered its final stretch, with polls indicating a close race between Donald Trump and Kamala Harris.
Gold is positioning itself to remain strong regardless of the outcome, as ongoing deficit spending is unlikely to change course quickly, said Alex Ebkarian, chief operating officer at Allegiance Gold.
The market's focus is now on the U.S. nonfarm payrolls report, due at 1230 GMT, for clues about the health of the world's largest economy.
On the physical front, gold demand in India jumped this week amid festival purchases, although volumes were lower than usual due to record high prices.
Among other metals, spot silver was flat at $32.64 per ounce while platinum gained 0.3% to $990.25. Both metals were on track for weekly declines.
Palladium was steady at $1,105.96, after hitting a more than one-week low in the session.
Source: Reuters
