(RTTNews) - The price of gold eased Friday morning as the U.S. dollar was trading firm ahead of non-farm payrolls data, due out later today.
Gold for August delivery, the most actively traded contract, edged down $1.70 to $1,528.90 an ounce. Yesterday, gold ended flat as comments from the European Central Bank indicating it will keep providing Portugal with liquidity soothed investors nerves and eased investment demand for the metal.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,205.81 tons.
Meanwhile, the U.S. dollar advanced to a fresh 2-week high versus the euro and sterling, while advancing to a monthly high against the yen. The buck was ticking higher versus the Swiss franc.
Elsewhere, U.K. output price inflation accelerated more than expected in June, data from the Office for National Statistics showed. Output prices rose 5.7 percent in June from the previous year, faster than the 5.5 percent consensus forecast and last month's 5.4 percent increase.
The price of silver moved lower and platinum ticked higher in morning deals.
In economic news from the U.S., the Labor Department will release non-farm payroll report for the month of June. Economists expect 105,000 job creations, up from the earlier 54,000, and the unemployment rate to ease to 9.0 percent from 9.1 percent.
