WASHINGTON (dpa-AFX) - Gold prices were steady on Friday and headed for a seventh weekly gain on Fed rate cut hopes and U.S. government shutdown worries.
Spot gold edged up by 0.1 percent to $3,860 per ounce in European trade, while U.S. gold futures were up 0.4 percent at $3,881.60.
The White House said 'thousands' of jobs from 'Democrat agencies' would be cut as another day of the U.S. government shutdown passed.
'We could cut projects that they wanted, favorite projects, and then they'd be permanently cut,' President Donald Trump said of Democrats in an interview that aired on One America News Network.
The next Senate vote on a House-passed resolution to keep the government funded at current levels through November 21 is scheduled for Friday afternoon.
Investors were also reacting to hawkish comments from Federal Reserve officials.
Dallas Fed President Lorie Logan on Thursday said she is not eager to cut interest rates further and sees inflation running above the 2 percent target.
Separately, Chicago Fed President Austan Goolsbee also said the Fed should 'be careful' about overly frontloading rate cuts.
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