Gold steadied on Friday, heading for its biggest weekly rise since mid-September as jitters over next week's U.S. election offset a solid payrolls report that shored up expectations for a U.S. interest rate hike next month.
Global equity markets slipped amid investor concerns about the outcome of Tuesday's U.S. presidential election, while the dollar eased, despite a solid U.S. jobs report that supported expectations for a Federal Reserve rate hike next month.
"If (Republican Donald) Trump wins, and he could win, I don't think it's going to be the shock that some people are making it out that it could be," said Bob Haberkorn, senior market strategist for RJO Futures in Chicago. "If he does win, initial reaction will be gold will pop. I don't think it will be like Brexit."