Gold edges down on Friday ahead of US monthly job data

Gold prices inched lower today, Feb. 3, heading for the first weekly drop in seven weeks.

The precious metal shed 2% after sell-offs amid optimism that the developed countries including the US will try to curb inflation.

Investors await today the US job data, which is expected to show 190,000 more jobs.

Gold futures for April delivery traded 0.24%, or $4.6 lower, at $1.92 per ounce at 11:52 am Makkah time. Spot gold steadies at $1.91 per ounce.

Silver futures for March delivery slipped 0.83% to $23.42 per ounce. Spot platinum prices were unchanged at $1.02.