Bengaluru — Gold firmed on Friday but stuck to a narrow range below the previous session’s highs as the dollar steadied amid caution ahead of US jobs data later in the day. Spot gold edged up 0.1% to $1,277.04/oz at 3.27am GMT, and was on track for its first weekly gain in three. It hit its highest in about two weeks, at $1,284.10, in the previous session. US gold for December delivery was mostly unchanged at $1,277.70/oz. The dollar held steady versus a basket of currencies on Friday, as focus shifted to US jobs data, with President Donald Trump’s nomination of Federal Reserve governor Jerome Powell to be the next Fed chief coming as no surprise. The greenback had slipped on Thursday after Republicans in the US House of Representatives released proposals to overhaul the tax code. Asian share markets edged higher on Friday as investors gave a guarded reception to the plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Fed. A holiday in Jap...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.