Spot gold traded at $2,911.00 per ounce as of 05:48 GMT, unchanged from the previous session.
The metal has risen 1.7% this week.In India, gold prices dropped. 24-carat gold fell ₹510 to ₹8,765.3 per gram, while 22-carat gold declined ₹470 to ₹8,036.3 per gram.
“Markets are waiting for clarity on trade policies. Gold’s outlook remains strong,” said Kunal Shah, head of research at Nirmal Bang Commodities.On Thursday (March 6), President Donald Trump suspended a 25% tariff on most Canadian and Mexican imports. The decision marked another shift in his fluctuating trade stance, which has unsettled markets and raised concerns over inflation and economic growth.
A weaker US dollar, ongoing trade tensions, and inflation worries continue to support gold, Shah added. The US dollar index hovered near a four-month low.
Trump’s policies have fueled economic uncertainty, helping gold climb over 10% this year. However, Federal Reserve Governor Christopher Waller signaled he is against a rate cut this month, though he expects reductions later in the year if inflation eases.
Investors are focused on the non-farm payrolls report, due at 13:30 GMT, which is expected to show a 160,000-job increase in February, according to a Reuters poll.
–With Reuters inputs
