Gold Prices Expected to Decline

Gold prices are set to decline for the second consecutive week, despite stable prices in early trading today, Friday, as investors await the U.S. non-farm payroll data that may provide indicators on the stance the Federal Reserve (U.S. central bank) will adopt regarding monetary policy. As of 02:15 GMT, gold remained steady in spot trading at $2,301.49 per ounce, having dropped more than one percent this week. Prices have decreased by $130 since reaching an unprecedented level of $2,431.29 earlier in April. U.S. gold futures rose 0.1 percent to $2,311.20. Regarding other precious metals, silver fell 0.2 percent in spot trading to $26.65 and has decreased by almost two percent during the week. Platinum increased by 0.9 percent to $957.15 and is on track to record a weekly gain, while palladium rose 0.1 percent to $935.99.