WASHINGTON (dpa-AFX) - Gold prices held steady on Friday as the dollar traded flat after reaching a four-week high against major peers the previous day.
Spot gold was marginally lower at $1,933.79 per ounce while U.S. gold futures were virtually unchanged at $1,968.85.
The precious metal is facing a weekly loss due to a surging dollar and rising bond yields as U.S. labor market data turns out extremely tight than expected.
All eyes remain on the monthly U.S. jobs report due later in the day that could provide further clues on the growth and rate outlook.
Economists expect the U.S. economy to have added about 200,000 jobs in July, but job gains could be higher because of the upbeat ADP employment data released earlier this week.
Richmond Federal Reserve President Tom Barkin said on Thursday that the impact of higher interest rates 'should start to really hit around now' but easing inflationary pressures could help stave off a widely predicted U.S. recession.
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