April 7 Gold held steady on Friday, after
dipping 0.3 percent in the prior session on a firm dollar, as
investors waited for the release of key U.S. non-farm payroll
data later in the day.
* Spot gold was flat at $1,251.06 per ounce by 0052
GMT. U.S. gold futures were also little changed at
* Spot gold was set for its fourth straight week of gains,
on track for a weekly rise of less than half a percent.
* Gold was pressured on Thursday as new applications for
U.S. unemployment benefits last week recorded their biggest drop
in nearly two years.
* The dollar index , which measures the greenback
against a basket of currencies, was up 0.1 percent at 100.730.
* Investors will watch out for March U.S. non-farm payrolls
data on Friday, which analysts say could be key for the
short-term direction of the gold market.
* According to a Reuters survey of economists, non-farm
payrolls likely increased by 180,000 jobs last month after
rising 235,000 in February. Strong job gains will likely add
upward pressure on wages, supporting higher interest rates.
* Investors were also anxious over Friday's meeting between
U.S. President Donald Trump and his Chinese counterpart Xi
Jinping, who met face-to-face for the first time on Thursday.
* It would make sense if the U.S. economy continues to grow
for the Federal Reserve to begin trimming its $4.5 trillion
balance sheet towards the end of this year, unwinding
extraordinary stimulus deployed during the crisis, John
Williams, president of the San Francisco Federal Reserve Bank
* The Fed's decision to reduce its massive asset holdings
will set off a complex dance with global investors and the U.S.
Treasury as it tries to put a final end to policies used to
fight the 2007 financial crisis without upending the economy
along the way.
* British workers are becoming more reticent about moving
jobs as the process of leaving the European Union gets underway,
exacerbating long-standing skill shortages, a survey of
recruiters showed on Friday.
DATA AHEAD (GMT)
0600 Germany Industrial output Feb
0600 Germany Trade data Feb
0645 France Industrial output Feb
0645 France Trade data Feb
0800 China Forex reserves Mar
0830 Britain Industrial output Feb
1230 U.S. Nonfarm payrolls Mar
1230 U.S. Unemployment rate Mar
1400 U.S. Wholesale sales Feb
(Reporting By Nallur Sethuraman in Bengaluru; Editing by