Gold prices edged lower on Friday and
looked set to fall for a third straight week, weighed down by a
robust dollar and rising yields, while investors await the U.S.
jobs report to assess its impact on monetary policy.
* Spot gold fell 0.4% to $1,869.26 per ounce, as of
0137 GMT, while U.S. gold futures slipped 0.4% to
$1,869.10. Bullion has declined about 1.5% so far this week.
* Benchmark 10-year U.S. Treasury yields firmed, while the
dollar held near a 20-year high against a basket of currencies,
making non-yielding bullion expensive for other currency
* New claims for U.S. unemployment benefits increased to a
more than two-month high last week, but remained at a level
consistent with tightening labor market conditions and further
wage gains that could keep inflation hot for a while.
* Investors will focus on U.S. Labor Department’s non-farm
payrolls numbers for April due later in the day.
* The Fed on Wednesday raised its benchmark rate by half a
percentage point, the most in 22 years, but Chairman Jerome
Powell explicitly ruled out a 75 bps raise in a coming meeting.
* The Bank of England sent a stark warning that Britain
risks a double-whammy of a recession and inflation above 10% as
it raised interest rates on Thursday to their highest since
2009, hiking by quarter of a percentage point to 1%.
* SPDR Gold Trust , the world’s largest gold-backed
exchange-traded fund, said its holdings fell 0.4% on Thursday.
* In other metals, spot silver slipped 1.1% to $22.25
per ounce, platinum declined 2.9% to $952.67 and
palladium fell 0.6% to $2,174.64.
0600 UK Halifax House Prices MM April
0600 Germany Industrial Output MM March
0645 France Reserve Assets Total April
1230 US Non-Farm Payrolls April
1230 US Unemployment Rate April
1230 US Average Earnings YY April
(Reporting by Swati Verma in Bengaluru;
Editing by Vinay Dwivedi)