Gold rises ahead of US jobs data today

Gold prices edged higher on Friday, with investors eying the US jobs report to gauge the Federal Reserve’s rate hike stance.

He US job data will be issued later today. Economists expect employers to have added 200,000 jobs in December and factory orders to slip 0.9%.

A sharp decline in the M2 measure of the US money supply could be good news for policymakers in their efforts to bring high inflation under control, St. Louis Fed President James Bullard said.

Gold for February delivery traded 0.2%, or $3.7, higher at $1,844 per ounce at 11:24 am Makkah Time.

Spot gold rose 0.25%, or $4.55, to $1,837 per ounce, heading for a weekly gain of nearly 0.8%.

Silver futures for March delivery added 0.72%, 19 cents, to $23.62 per ounce. Spot platinum edged down 0.25% to $1,059.66. Palladium gained 0.39% to $1,751.69.