Gold prices stabilize as markets await US jobs data

Gold prices showed little change on Friday, edging toward modest weekly gains, as attention shifted to upcoming U.S. jobs data in search of clues about the Federal Reserve’s next interest rate decision.

Spot gold prices held steady at $4,477.10 per ounce.

Prices surged 2% on Thursday as traders scaled back expectations for an interest rate hike this month after Christopher Waller, a Federal Reserve official, said he would support keeping rates unchanged if data continued to show easing inflation pressures.

The U.S. non-farm payrolls report is scheduled for release on Friday evening.