07.05.202110:17:00UTC+00Gold Rises On Dollar Weakness

Gold prices inched higher on Friday and were set for their best week in six months as Treasury yields pulled back and the dollar fell ahead of key U.S. non-farm payrolls report due later in the day.

Spot gold rose 0.3 percent to $1,820.60 per ounce, after having its highest since Feb. 16 earlier in the session. U.S. told futures were up 0.3 percent at $1,820.95.

Bullion prices were up almost 3 percent so far this week as comments from several Federal Reserve officials helped push back tapering bets.

Benchmark 10-year note yields eased to 1.577 percent and the dollar index extended its two-day decline as investors await the Labor Department's monthly jobs report, which could affect views on the outlook for the economy and monetary policy.

Economists employment to jump by 978,000 jobs in April after an increase of 916,000 jobs in May. The unemployment rate is also expected to dip to 5.8 percent from 6.0 percent.