Bengaluru — Gold was steady on Friday ahead of key US jobs data later in the day, with prices curbed as the dollar stood firm near a seven-week high. Spot gold was little changed at $1,267.95 an ounce at 3.40am GMT. The metal was, however, down 0.9% for the week and headed for a fourth weekly decline. US gold futures for December delivery were down 0.2% at $1,270.60. "The dollar is strong. That is one reason why gold is rangebound. Markets are expected to hold this way until nonfarm payrolls is out. We might see some action only then," said Brian Lan, MD at dealer GoldSilver Central in Singapore. Asian shares rose on Friday, tracking Wall Street gains, and the dollar touched a seven-week high versus a basket of currencies on fresh signs of economic growth and hopes for progress on US tax reforms, with traders looking to US jobs data for near-term catalysts. "The rebound of the dollar has been quite strong and may need to pause," said Samson Li, an analyst with Thomson Reuters GFMS. ...
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