Gold rises from 10-month lows as dollar sags

Gold recovered from its lowest level since early February on Friday, snapping three sessions of losses, as the dollar fell against a basket of currencies ahead of U.S. payrolls data due later in the day. 

       FUNDAMENTALS

Spot gold was up 0.3 % at $1,174.10 an ounce by 0035 GMT. The metal dropped its lowest since Feb. 5 at $1,160.38 in the previous session. 

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 Gold was trading down 0.7 % for the week, on track to post a fourth consecutive weekly decline.

  U.S. gold futures gained 0.6% at $1,176.50 per ounce. 

The dollar sagged early on Friday against its peers as investors took a cautious view ahead of a looming U.S. jobs report that could set the tone in coming days. 


U.S. factory activity accelerated to a five-month high in November amid a pickup in new orders and production, suggesting that the manufacturing sector was regaining its footing after a prolonged slump. 

                                            SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 1.54 % to 870.22 tonnes on Thursday from 883.86 tonnes on Wednesday.

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