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- Gold hovers near $1,200, set for weekly dip on robust dollar
Gold hovers near $1,200, set for weekly dip on robust dollar
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Loading...Gold held below $1,200 an ounce on Friday and was headed for a fifth weekly decline in six, with the dollar near 11-year highs on expectations of strong U.S. jobs data and an interest rate hike.
All eyes were on the U.S. nonfarm payrolls report due later in the day to gauge the strength of the economy and how that will affect the timing of any interest rate hike by the Federal Reserve.
Analysts polled by Reuters expect U.S. payrolls to have increased 240,000 last month and the jobless rate to have ticked down to 5.6 percent from 5.7 percent.
The dollar hovered at 11-year highs against a basket of major currencies early on Friday.
It was also helped by weakness in the euro, which stayed under pressure after the European Central Bank said it would kick off its 1 trillion euro bond-buying program next week.
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