
Nov 20 (Reuters) - Gold prices edged higher on Thursday, as investors looked forward to the release of the delayed U.S. jobs report that could shed more light on the Federal Reserve's interest rate trajectory.
FUNDAMENTALS
Spot gold XAU= was up 0.3% at $4,092.98 per ounce, as of 0153 GMT. U.S. gold futures GCcv1 for December delivery edged 0.2% higher to $4,092.70 per ounce.
Investors now await the September U.S. non-farm payrolls report due later in the day after being delayed due to the recent U.S. government shutdown.
Economists polled by Reuters expect the report will show that employers added 50,000 jobs during the month. USNFAR=ECI
Minutes from the Fed's October meeting released on Wednesday showed it cut interest rates even as policymakers cautioned that doing so could risk entrenched inflation and a loss of public trust in the U.S. central bank.
Traders now see nearly a 33% chance for a rate cut at the Fed's December 9-10 meeting, down from 49% on Wednesday, CME Group's FedWatch tool showed. FEDWATCH
Non-yielding gold tends to do well in a low-interest-rate environment and during times of economic uncertainties.
Meanwhile, U.S. President Donald Trump on Wednesday doubled down on his criticism of Fed Chair Jerome Powell for not lowering interest rates more quickly.
The dollar index .DXY held steady near a two-week high against its rivals. A stronger dollar makes gold more expensive for holders of other currencies. USD/
A relief rally swept across Asian markets and lifted stocks in early trading on Thursday as investors cheered Nvidia's market-topping earnings. MKTS/GLOB
SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.22% to 1,043.72 tonnes on Wednesday from 1,041.43 tonnes on Tuesday.
Elsewhere, spot silver XAG= gained 0.4% to $51.58 per ounce, platinum XPT= climbed 1% to $1,561.39, and palladium XPD= added 1.4% to $1,399.
DATA/EVENTS (GMT) | |
1330 | US Non-Farm Payrolls Sep |
1330 | US Unemployment Rate Sep |
1330 | US Average Earnings YY Sep |
1330 | US Initial Jobless Clm 10 Nov, w/e |
1330 | US Philly Fed Business Index Nov |
1500 | EU Consumer Confid. Flash Nov |
1500 | US Existing Home Sales Oct |