Gold prices were supported by a weaker dollar on Friday as markets awaited US jobs data that could impact the Federal Reserve's hawkish stance on monetary policy.
Spot gold edged up 0.1% to $1,805.90 per ounce by 0801 GMT. US gold futures gained 0.2% to $1,807.20.
If the jobs report out of the United States encourages the Fed's hawkish mood, it should lead to a significant breakdown in gold, DailyFX currency strategist Ilya Spivak said.
Gold has gained about 0.9% this week as a pullback in the dollar lifted the appeal of bullion.
Gold lacklustre as dollar gains ground with cenbanks in focus
Despite a rebound in many assets that weakened because of the Fed's hawkish stance and the dollar pulling back, gold has not been able to mount a rally, which indicates significant underlying weakness, Spivak said.
Gold prices have more or less consolidated around $1,800 an ounce since slipping to a 1-1/2-month low last week after the Fed signalled a March interest rate hike to fight inflationary risks.
Gold is considered a hedge against inflation and geopolitical risks, but interest rate hikes would raise the opportunity cost of holding non-yielding bullion.
Concerns over a Russian invasion of Ukraine have also kept demand for the safe-haven metal intact.
"Signs of more sustained inflation, due to continued supply chain issues, higher commodity prices, or continued upside pressure on wages, could also act as a tailwind for gold this year," Jordan Eliseo, manager of listed products and investment research at Australia's Perth Mint, said.
Eliseo said it is possible that the challenge higher rates pose to equity markets could end up supporting gold.
Among other metals, spot silver gained 0.3% to $22.47 per ounce, platinum fell 0.4% to $1,029.49 and palladium rose 0.9% to $2,344.98.
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