Metals Stocks: Gold futures fall, on pace for weekly drop ahead of much-anticipated jobs report


Gold futures fell Friday and were on track for a weekly drop, as investors wait to see if an expected upbeat August payrolls report offsets the downbeat reading on factories that gave gold a small lift a day earlier.

The debate over the speed and aggressiveness of Federal Reserve interest-rate changes remains pinned to each economic release but the payrolls report can carry additional weight for financial markets. A strong payrolls reading could put a September interest-rate hike back on the table, presumably lifting the dollar and dulling the appeal of greenback-priced gold. Prospects for higher rates also tend to turn off investors from nonyielding precious metals.

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