Gold prices steady ahead of US jobs report

Gold bars

Gold futures held firm on Friday, following the losses recorded in the previous session as part of a wider market selloff that followed US President Donald Trump’s sweeping reciprocal tariffs. Investors are also awaiting the release of the US monthly jobs report.

June gold futures remained flat at $3,123.3 per ounce as of 9:48 am KSA time, and are on track to post a weekly gain of about 0.30%.

Spot gold fell 0.35% to $3,102.03 per ounce, but the metal is still on track for its fifth consecutive weekly gain.

Silver futures for May delivery dropped 1.31% to $31.55 per ounce, while spot platinum held steady at $950.93 per ounce.

On April 3, investors accelerated their exit from the gold market to cover losses in other riskier assets like stocks, amid growing fears of a global economic recession and rising inflationary pressures triggered by US trade policies.

Markets are now focused on the upcoming US jobs report from the Department of Labor. Expectations suggest the world’s largest economy is expected to add 139,000 jobs in March, down from 151,000 in February, while the unemployment rate is projected to hold steady at 4.1%.