Feb 5 (Reuters) - Gold edged up on Friday, recovering from
its lowest level in more than two months, but is still on course
to post its worst week in ten due to a firmer dollar.
FUNDAMENTALS
* Spot gold XAU= rose 0.2% to $1,795.10 per ounce by 0042
GMT. Prices were down 2.7% for the week, it's biggest weekly
decline since Nov. 27. U.S. gold futures GCv1 gained 0.4% to
$1,797.60.
* On Thursday, prices fell to their lowest since Dec. 1 at
$1,784.76.
* Democrats in the U.S. Senate were poised on Thursday to
take a first step toward the ultimate passage of President Joe
Biden's $1.9 trillion COVID-19 relief proposal. * U.S. jobless claims decreased further last week,
suggesting the labor market was stabilizing. * The dollar held firm at a more than two-month peak on
Thursday, while longer-term U.S. Treasury yields rose as
investors positioned for a large pandemic relief package from
Washington and a stabilizing U.S. labor market. USD/
* The Bank of England gave British lenders breathing space
of at least six months on Thursday before negative interest
rates are a possibility. * Holdings in the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust GLD rose 0.2% to
1,159.84 tonnes on Thursday. GOL/ETF
* Spot silver XAG= added 0.1% to $26.31 but were down 2.5%
for the week. Prices have eased since hitting a near eight-year
peak of $30.03 on Monday as the social media-driven rally
fizzled out. * Australia's Perth Mint said on Thursday its January silver
coin sales jumped 23.5% from the previous month. * Platinum XPT= shed 0.1% at $1,096.88 an ounce and
palladium XPD= gained 0.2% to $2,286.83.
DATA/EVENTS (GMT)
0430 India Cash Reserve Ratio
0430 India Repo Rate, Reverse Repo Rate
0700 Germany Industrial Orders MM Dec
0830 UK Halifax House Prices MM Jan
1330 US Non-farm Payrolls, Unemployment Rate Jan
1330 US Average Earnings YY Jan
1330 US International Trade Dec