Gold prices edge up as dollar weakens

Gold bars

Gold futures edged up on Thursday as the US greenback weakened ahead of the release of the monthly US jobs report, which investors await to gauge the Federal Reserve’s policy.

Gold futures for August rose by 0.15%, or $4.20, to $3,363.90 per ounce.

Meanwhile, spot gold slipped 0.1% to $3,354.02 per ounce as of 08:24 am KSA time.

The US Dollar Index rose about 0.1% to trade at 96.87 points.

Elsewhere, September silver futures fell 0.25% to $36.64 per ounce. Spot prices for platinum dropped nearly 1.25% to $1,404.58, while palladium declined by around 1.5% to $1,143.13.

The US non-farm payrolls report, due later today, is expected to show a rise of 111,000 jobs in June, down from 139,000 in May.