Gold held a decline on Friday — but remained on track for a small weekly gain — as resilient US jobs data reinforced views that the Federal Reserve will hold interest rates next week.
Bullion traded near $3,370 an ounce, following a 0.6% loss on Thursday after a report showed applications for US unemployment benefits fell for a sixth straight week — the longest stretch of declines since 2022. The dollar and Treasury yields pushed higher, weighing on non-interest bearing gold, as swap traders slightly pared bets on Fed rate cuts. Less than two reductions are now projected this year, with the first full cut expected in October.