Gold Set for Second Weekly Loss Before US Payrolls Data

Gold prices stayed mostly steady on Friday.

However, gold was still on track to lose value for the second week in a row.

A stronger US dollar made gold more expensive for buyers using other currencies.

Higher Treasury yields also made gold less attractive because gold does not pay interest.

Investors were waiting for the US jobs report.

A strong report could make the Federal Reserve more likely to raise interest rates.

Traders currently saw only a 26% chance of a rate hike this month, but an 80% chance of one in December.

Silver, platinum and palladium also rose that day but were still expected to finish the week lower.