Gold steady ahead of US job data

Gold prices held steady today, May 5, but they are still bound for the best weekly gain since mid-March, as investors are awaiting the IS monthly job data.

The US is projected to have added 183,000 non-farm payrolls last month, according to economists surveyed by Bloomberg, down from 236,000 in March. The unemployment rate is forecast to have ticked up to 3.6% in April.

Gold for June delivery was unchanged at $2,055.4 an ounce at 9:02 am Makkah Time. Spot gold traded lower 0.11% to $2,047.99 an ounce.

Gold prices rose nearly 3% this week, thanks to higher demand for the previous metal as a safe haven amid concerns about the US banking sector and debt ceiling.

Silver futures for July traded 0.32% higher at $26.31 an ounce. Spot platinum prices were flat at $1,048.31.

The dollar index edged down 0.22% to 101.18 points.