Gold: Gold holds steady as investors focus on US labor data.

Gold remained stable on Friday as investors stayed away from making big bets before the US. nonfarm payrolls report that is considered key to the Federal ReserveTimeline of the stimulus set-up.

FOUNDATIONS

* Spot gold was stable at $ 1,755.83 an ounce at 0113 GMT, down 0.3% so far this week.

* US gold futures fell 0.1% to $ 1,757.10 an ounce.

* The dollar index remained below a one-year high. A stronger dollar makes gold more expensive for others badge Headlines.

* According to a Reuters poll of economists, nonfarm payrolls likely increased by 500,000 jobs in September.

* Chairman of the Fed Jerome powell It had pointed out last month that there was broad agreement among authorities to start reducing the central bank’s monthly asset purchases starting in November, provided the September jobs report was “decent.”

* Reduced stimulus and higher interest rates raise bond yields, which translates into higher opportunity costs of holding interest-free bullion.

* Thursday’s data showed that the number of Americans filing new jobless claims declined the most in three months last week, suggesting that the labor market recovery was picking up steam after a recent slowdown.

* The Senate passed legislation to temporarily increase the federal government’s $ 28.4 trillion debt limit and avoid the risk of a historic default this month, but postponed a decision on a more durable remedy until early December.

* China had 62.64 million troy ounces of fine gold at the end of September, unchanged from the previous month, official data showed on Thursday.

* Spot silver fell 0.4% to $ 22.48 an ounce, platinum was up 0.2% to $ 981.37 an ounce and palladium was down 0.4% to $ 1,951.93. DATA / EVENTS (GMT) 0145 China Caixin Services PMI 1,230 US Non-Farm Payrolls 1,230 US Unemployment Rate 1,230 US Average Earnings YY

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