Gold held steady on Thursday above two-month lows hit in the previous session after the dollar gave up gains as investors wait for clues to the next U.S. interest rate hike from the nonfarm payrolls report on Friday.

"Technicals show that gold and silver prices need some correction and will see some mild rebound. But, Friday's jobs data is going to be crucial," said Jiang Shu, chief analyst at Shandong Gold Group.

Spot gold edged up 0.1 % to $1,309.76 per ounce at 0343 GMT. The metal touched a low of $1,304.91 on Wednesday, its lowest since June 24.Spot gold may retest a support at $1,306, with a good chance of breaking below this level and falling more to the next support at $1,301, according to Reuters technical analyst Wang Tao.

U.S. gold futures were up 0.1 % at $1,312.90.Gold was unlikely to break below $1,300 before Friday's data, he said.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, posted the first monthly dip in August in four months. They fell 1.27 % to 943.23 tonnes on Wednesday and were down 1.6 % for the month.

For More Information AgriCommodity Tips,Ncdex Tips,Free Agri Tips on Mobile, stock tips,mcx tips,nifty future tips,stock future tips,equity tips,Agricommodity Tips,Agri Commodity Market Tips,nse bse tips, and you can call us on :-9827808090.