Gold and dollar move cautiously, awaiting US jobs data

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Gold and the dollar are moving cautiously on Friday, awaiting US jobs data, due later today.

Gold prices moved within a narrow range between falling and rising.

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By 8:37 (GMT), the yellow metal was traded in spot trading at $1,755.79 an ounce, unchanged from its closing in the previous session.

And it fell in US futures contracts by about $3, or 0.18 percent, to $1,755.1 an ounce.

On the other hand, the dollar, which measures the performance of the US currency against a basket of six major competing currencies, rose by 0.1 percent to 94.3 points.

The rise of the dollar reduces the attractiveness of gold, as it raises the cost of holding it for holders of other currencies.

The US jobs data for the month of September is due to be released later today.

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Which will have a significant impact on the directions of the Federal Reserve (the US central bank) regarding the monetary policy for the next stage.

In the event of strong job growth, analysts expect the Federal Reserve to announce at its next meeting that it will begin to scale back its massive program.

to buy bonds and his interest rate plans, in an effort to keep inflation within the target range.

Reducing stimulus programs and raising interest rates would harm the price of gold, which is used as a hedge against inflation.

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Meanwhile, the tightening of monetary policy supports the dollar, which constitutes an additional factor pressing on the prices of the precious metal.