Gold prices climb up in Asia
On Friday, gold prices climbed up moderately in Asia with the focus on nonfarm payroll figures from the America. Those figures are the key indicator in Fed interest rate decision making especially in the spotlight for chances of tipping a rate lift as early as the month.
December delivery gold futures headed north 0.08%, trading at $1,318.15 per troy ounce.
As Investing.com's Fed Rate Monitor Tool informs, traders are currently pricing in a 24% probability of a rate lift by September.
Overnight, gold prices went down to a new two-month minimum for the second day in a row on Thursday, as market participants looked ahead to data on American nonfarm payrolls on Friday just to see if the US economy is sturdy enough to withstand a rate lift in the coming weeks.
The very essence of consensus forecast is that the data will demonstrate jobs growth of 180,000 in August, following a surge of 255,000 in the preceding month.
A sturdy nonfarm payrolls report would drastically reinforce the view that an American rate lift in September might be on the cards, after hawkish clues from senior Fed officials in recent days revived rumors of a near-term rate hike.