(RTTNews) - The price of gold moved back above $1,750 Friday morning as the U.S. dollar was flat ahead of non-farm payroll data.
Gold for February delivery, the most actively traded contract, added $16.20 to $1,756.00 an ounce. Yesterday, gold snapped its three-session winning streak to end marginally lower as traders locked in recent gains.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged down to 1,297.93 tons from 1,298.53 tons.
This morning, the U.S. dollar was lingering around its weekly low versus the euro and sterling, while ticking higher against the yen and trading flat versus the Swiss franc.
In economic news, producer price inflation in the euro area eased more than economists expected in October, data released by statistical office Eurostat showed. The producer price inflation, excluding construction, eased to 5.5 percent in October from 5.8 percent in September, which was unchanged from August. Economists expected a growth rate of 5.6 percent for October. In the EU27, output price inflation slowed to 6.4 percent from 6.9 percent.
Elsewhere, the prices of silver and platinum moved higher in morning deals.
From the U.S., the Labor Department will release its jobs data for the month of November at 8.30 a.m. ET. Economists expect non-farm payrolls to increase by 131,000, while the unemployment rate is expected to stay flat at 9 percent.
