Gold futures settled slightly lower on Friday, but pared a much sharper decline as financial markets awaited an update on reported progress in trade negotiations between the U.S. and China and as an upbeat reading on jobless benefits claims fueled expectations for a recovery in monthly hiring in a report due Friday morning.
June gold closed $1, or less than 0.1%, lower at $1,294.30 an ounce. The metal had hitan intrday low at $1,284.90 an ounce as the dollar gained some altitude.
One measure of greenback, the ICE U.S. Dollar Index was up 0.2% at 97.31. For the week, gold is headed for a decline of about 0.3%, based on the most-active contract.