The price of
was slipping on Friday, barreling toward its biggest weekly loss
since the middle of March,
Traders and investors are keeping a close eye on this weekend's
elections in two key euro zone nations - Greece, the recipient of
two tranches of bailout aid, and France, the host of the region's
second-largest economy. The U.S., the globe's largest economy, is
set to release data about non-farm payrolls, which also is
attracting investor scrutiny.
"Our economists expect NFP to show a modest gain of 125,000, versus
a consensus of 160,000," analyst Anne-Laure Tremblay with BNP
Paribas told the news service. "Such an outcome would probably be
more positive for gold, as it would raise the possibility of
further monetary accommodation by the Fed before the end of the
At 8:06 a.m. on Friday, gold futures dropped 0.23 percent, a $3.70
loss to $1,631.10 per troy ounce.
the economic data to be released by the U.S. Labor Department will
play an important role in the debate about follow-up rounds of
efforts to spur the U.S. economy, which typically benefits the
price of the yellowish metal.