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Gold steady ahead of U.S. jobs data
Gold is currently at $1,124.40 (-0.01%). The precious metal headed for a second weekly drop as the dollar gained after European Central Bank meeting. ECB President Mario Draghi said that the bank will expand stimulus by allowing officials to buy higher proportions of each euro area member's debt.
Investors are waiting for U.S. payrolls data to assess strength of the U.S. labor market, which matters for Fed officials a lot when it comes to interest rates decisions.
Gold's declines in terms of the U.S. dollar weighed on gold mining in the U.S. The US Geological Survey showed that the country's gold production (world's fourth largest producer) fell 10% to 76.9 tonnes in the January-May period compared to the same five months last year.
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