Gold Hovers Around $1200

Gold held below $1,200 an ounce on Friday and was headed for a fifth weekly decline in six, with the dollar near 11-year highs on expectations of strong U.S. jobs data and an interest rate hike.

Spot gold was little changed at $1,199.61 an ounce by 0028 GMT, after falling for four straight sessions to Thursday. The metal is down about 1 percent for the week.

All eyes were on the U.S. nonfarm payrolls report due later in the day to gauge the strength of the economy and how that will affect the timing of any interest rate hike by the Federal Reserve.


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