Gold prices were rising as traders await crucial U.S. economic data due later Friday for more cues on the path of interest rates this year.
Futures in New York were up 0.4% to $4,478 a troy ounce and are headed for a weekly gain of 3.4%.
“Attention is now on [Friday’s] December nonfarm payrolls report, which is expected to show solid hiring but steady unemployment—a mixed picture that may reduce urgency for the Fed to resume rate cuts,” Soojin Kim from MUFG said.
“Traders are also closely watching the upcoming selection of a new Fed chair, with Treasury Secretary Scott Bessent saying President Trump is expected to name a successor to Jerome Powell later this month.”