Analyst: Weakness in the US dollar has caused the price of gold to rise, and weaker than expected non-farm data will benefit gold.

Due to the decline in the US dollar and US Treasury yields, gold futures rose in relatively light trading. However, after a sharp sell-off on Thursday, the overall trend this week was a decrease. Analysts at SP Angel said in a report that ETF outflows indicate that traders and investors have been locking in profits after a 21% increase in gold prices so far this year. SP Angel also mentioned that the easing of trade tensions is reducing the appeal of gold, while Trump announced that he does not intend to fire Powell. The focus now shifts to the US jobs data due out on Friday. If the data is weaker than expected, it will boost optimism for a Fed rate cut, which would be positive for interest-free gold.