Khaberni - Gold rose on Friday amid a dollar decline after private sector employment reports pointed to weakness in the U.S. labor market, which boosted expectations of another interest rate cut.
Gold in spot transactions climbed 0.4 percent to $3994.03 per ounce by 0341 GMT but is heading for a weekly loss of 0.3 percent. The precious metal has fallen about eight percent since recording its all-time high of $4381.21 on October 20.
U.S. gold futures for December delivery rose 0.3 percent to $4004.40 per ounce.
Data released on Thursday showed that the U.S. economy lost jobs in October in the government and retail sectors, while cost-cutting measures and companies' reliance on artificial intelligence led to an increase in announced layoffs.
The dollar declined as investors who lack official U.S. labor market data focus on signs of weakness shown by private sector surveys.
Weakness in the labor market usually increases the likelihood of interest rate cuts.
For other precious metals, silver in spot transactions increased by 0.7 percent to $48.31 per ounce but is heading for a weekly loss of 0.7 percent. Platinum fell 0.4 percent to $1534.21 and is heading for a weekly decrease of about two percent. Palladium increased by 0.3 percent to $1379.33 and is heading for a weekly gain of 0.5 percent.
