Gold prices slipped but was trading above the 10-week low touched in the previous session, as the dollar rose against the yen on signs of progress in the US-China trade dispute and strong US economic data. Investors are now awaiting the US jobs numbers for more signals on the strength of the economy.
Spot gold slipped 0.3% to $1,288.18 per ounce, after touching its lowest since January 25 at $1,280.59 in the previous session. The metal was down about 0.3% so far this week. US gold futures were down 0.1% at $1,292.50 an ounce.
Gold prices on Thursday breached its 100-day moving average around $1,282 an ounce for the first time since at least November, mainly pressured by robust US data and an improvement in risk appetite.US President Donald Trump said on Thursday the two sides were close to a trade deal that could be announced within four weeks.
Silver dipped 0.3% to $15.09 per ounce. The metal had fallen to its lowest level since end-December in the previous session.