Gold prices rise ahead of US employment data release

Gold prices rose on November 4 and may show an increase by the end of the week. The US dollar is weakening, and investors are waiting for the publication of US employment data, Report informs.

Gold grew 1.2% to $1,648.77 per ounce on the spot market. Since the beginning of the week, prices have strengthened by 0.4%. COMEX gold futures rose 1.3% to $1,651.40.

Market participants are looking forward to the release of the US nonfarm payrolls report for October.

Analysts polled by Reuters forecast the figure up 200,000 in October after rising 263,000 in September.

Spot silver was up 1.9% to $19.38 an ounce, platinum was up 1.4% to $931.94 and palladium was up 1.8% to $1,834.40.