Spot prices hold near $4,477 an ounce, on track for modest weekly advance amid caution ahead of non-farm payrolls
LONDON/SINGAPORE — September 4, 2026 : Gold prices traded in a tight range on Friday and remained on track to post a modest weekly rise, as investors paused ahead of a critical US employment report that could steer the Federal Reserve’s upcoming monetary policy decisions.
Spot bullion stood firm at $4,477.10 an ounce by 02:11 GMT, showing resilience after fluctuating through early Asian trading hours. US gold futures settled lower ahead of the Western session, with December contracts easing 0.4% to $4,522.60 an ounce.
Bullion traders kept commitments limited, preferring the sidelines before the US Department of Labor releases its monthly non-farm payrolls figures. The employment numbers remain the most significant economic gauge before central bank policymakers meet to evaluate interest rate paths.
A softer labour print tends to raise expectations of aggressive monetary easing, reducing the opportunity cost of holding non-yielding precious metals. Conversely, signs of persistent hiring strength could give the Federal Reserve room to keep rates restrictive, supporting the dollar and checking further upward momentum in metal markets.
Other precious metals saw subdued trading alongside bullion. Spot silver eased 0.3% to $66.78 an ounce, though it retained enough strength from earlier sessions to preserve a positive weekly balance.
Automotive and industrial metals drifted lower. Platinum declined 0.8% to trade at $1,811.28 an ounce, while palladium slipped 0.4% to $1,415.75 an ounce. Both industrial catalysts headed toward weekly losses as manufacturing demand indicators across major regional hubs remained restrained.
