Gold up as dollar rises ahead of US job data

Gold prices rose on Friday, but they are heading for a second consecutive week of losses as investors await today the release of the monthly US jobs report, seeking further information on monetary policy prospects.

Gold prices for June delivery rose by 0.26% or $5.9 to $2315.5 per ounce at 08:23 AM LSA Time. However, these prices are 1.35% lower compared to last Friday's settlement at $2347.2.

Spot gold added 0.18% to $2308.04 per ounce, and July silver futures increased by 0.43% to $26.95, while the spot price of platinum rose by 0.48% to $959.32 per ounce.

Analysts expect the US economy to add 250,000 jobs in the expected April report from the Department of Labor today, after adding 303,000 in March.

The dollar index, which measures the value of the US currency against a basket of six major currencies, remained stable at 105 points.