WASHINGTON (dpa-AFX) - Gold edged higher on Friday while the dollar weakened after data showed the number of Americans filing new applications for unemployment benefits rose slightly last week, pointing to steadily easing labor market conditions.
Spot gold rose 0.3 percent to $2,640.40 in European trade while U.S. gold futures were up half a percent at $2,662.74.
All eyes now remain on the all-important U.S. jobs report due later in the day that could help decide the Federal Reserve's policy path later this month.
Economists expect U.S. employment to jump by 200,000 jobs in November after an increase of 12,000 jobs in October. The unemployment rate is expected to tick up to 4.2 percent from 4.1 percent.
Remarks by several Fed officials and a report on U.S. consumer sentiment, which includes readings on consumers' inflation expectations, may also provide further insights into the rate outlook, heading into the Federal Reserve's monetary policy meeting later this month.
Market participants currently expect the Fed to lower rates by another 25 basis points at the December meeting, but there remains considerable uncertainty about the likelihood of continued rate cuts at future meetings.
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