Gold set for an increase due to US stimulus hope

Gold set for an increase due to US stimulus hope

Gold remains steady on Friday as investors hope for US stimulus increases in preparation for US non-farm payrolls data due later in the day.

Spot gold was little changed at $1,840.75 per ounce by 05:28 GMT. US gold futures were up 0.2% at $1,844.10. Gold has added about 3% so far this week.

"Upward momentum (in gold) is strong partly because of a weakening dollar and prices have been technically oversold," said Margaret Yang, a strategist at DailyFX.

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