WASHINGTON (dpa-AFX) - Gold eyed a third weekly gain on Friday ahead of the pivotal U.S. jobs data later in the day.
Spot gold edged up by 0.1 percent to $3,548.79 in European trading, after having touched a record high of $3,578.50 on Wednesday. U.S. gold futures were marginally lower at $3,604.50.
Bullion has risen more than 3 percent so far this week following dovish comments from Federal Reserve officials and an intensifying Russia-Ukraine conflict.
Following recent weak labor market readings, the all-important U.S. jobs report may reinforce bets that the Federal Reserve will cut interest rates later this month.
Analysts expect another tepid report that might show slowing job growth and rising unemployment due to Trump's unpredictable trade policies, immigration changes and increased AI adoption.
Economists expect employment to increase by 75,000 jobs in August after an increase of 73,000 jobs in July. The unemployment rate is expected to inch up to 4.3 percent from 4.2 percent.
The probability of the Fed cutting rates by 0.25 percentage points at the FOMC meeting on the 16th-17th this month now stands at 99.4 percent, according to the CME FedWatch Tool.
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