Gold prices steady

Singapore (Sept 3)  Gold was steady on Friday after falling to its lowest in over two months the session before, with the dollar slipping as weak U.S. manufacturing data raised doubts on the economy´s strength ahead of closely-watched nonfarm payroll numbers.

"(The Federal Reserve head´s) comments from last week have put pressure on gold and we need to see the jobs data, which is likely going to be really good," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

U.S. factory activity contracted in August for the first time in six months as new orders and production tumbled, but a low level of layoffs continued to point to a pickup in economic growth in the third quarter.

Other U.S. data showed initial claims for state unemployment benefits rose less than expected last week, pointing to sustained labour market strength.

Spot gold was largely unchanged at $1,314 per ounce by 0414 GMT.

Source: TheNews