Investing.com - Gold prices trimmed losses on Thursday, as the release of mixed U.S. economic reports halted the U.S. dollar's recent progression and was investors began to focus on Friday's highly-anticipated nonfarm payrolls report.
Comex gold futures were steady at $1,314.50 a troy ounce by 08.35 a.m. ET (12:35 GMT).
The U.S. Labor Department reported on Thursday that the number of people who filed for unemployment assistance last week rose less than expected.
However, a separate report showed that U.S. consumer spending rose less than expected in July, while core PCE prices inched up tepidly.
The greenback had strengthened broadly after data on Wednesday showed that U.S. economic growth for the second quarter was revised higher expected.
A separate report showed that the U.S. private sector added more jobs than expected in July.
Market participants were now eyeing the monthly nonfarm payrolls report due on Friday, for further indications on the strength of the economy.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was still up 0.30% at 93.12, after hitting session highs of 93.30.
Gold is sensitive to moves in the dollar. A stronger dollar makes gold more expensive for holders of foreign currency.
Elsewhere on the Comex, silver futures lost 0.2 cents or about 0.11% to $17.39 a troy ounce.