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Gold was mostly unchanged on Friday, holding on to its losses from the previous session, and could see a further drop in prices as strong US jobs data and record highs on Wall Street dent the precious metal's safe-haven appeal. US employment growth jumped in June and the jobless rate closed in on a six-year low, decisive evidence of brisk economic growth heading into the second half of the year.
"Liquidity is again thin today because of the US holiday. But when we see bigger volumes from Monday, gold will resume its decline as long positions are unwound," a precious metals trader in Tokyo said. US markets are shut on Friday for the Independence Day holiday. Spot gold was flat at $1,321.10 an ounce at 0654 GMT. It fell more than 1 percent to a one-week low of $1,309.64 on Thursday, before recovering slightly to close down 0.6 percent.

Copyright Reuters, 2014

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