Gold steadies ahead of job data

Gold prices remained stable today amid anticipation of U.S. jobs data, with expectations of a slowdown in the Federal Reserve's interest rate hikes. The spot price steadied at around $4,469.26 per ounce, following a 2% jump yesterday (Thursday), after some Federal Reserve members signaled support for keeping rates unchanged if inflation pressures decrease. Current economic data supports a stable labor market, while investors await the upcoming non-farm payrolls report, which will shed light on future monetary policy directions. Although central bank demand has increased, higher interest rates typically have a negative impact on gold prices since it does not yield interest. Other metals experienced declines, and it is expected that gold will record limited weekly losses.

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