July 5 (Reuters) - Gold prices inched up on Friday and were
heading for their seventh consecutive weekly gain, with
investors waiting for U.S. non-farm payrolls data later in the
day for clues on the outlook for interest rate cuts.
FUNDAMENTALS
* Spot gold XAU= was up 0.2% at $1,417.40 per ounce as of
0119 GMT. Prices touched $1,435.99 on Wednesday, the highest
since June 25.
* The metal has risen 0.7% so far this week and is on track
for its seventh consecutive weekly rise.
* U.S. gold futures GCv1 were down 0.1% at $1,419.90 an
ounce.
* All eyes are on U.S. non-farm payrolls, due later in the
day, which are expected to have jumped by 160,000 in June
compared with 75,000 in May. * The U.S. Federal Reserve holds its two-day policy meeting
on July 30-31 and futures 0#FF: are fully pricing in a
25-basis-point cut.
* The dollar index .DXY was relatively unchanged against a
basket of major currencies on Friday. USD/
* U.S. Treasury yields fell on Wednesday with 10-year yields
hitting their lowest in over 2-1/2 years. US/
* Asian shares hovered near two-month highs on Friday,
holding recent gains. MKTS/GLOB
* Australia's OceanaGold Corp OGC.AX said on Thursday that
it had stopped trucking at its Didipio gold and copper mine in
the Philippines after a dispute with the provincial government
over its licence to operate at the site. * Investors pulled $15.1 billion from equity funds after
near record selling in the United States ahead of the G20
Summit, and piled $6.3 billion into bonds in the four trading
days to July 2, Bank of America Merrill Lynch (BAML) said on
Thursday. AHEAD (GMT)
* 1230 US Non-Farm Payrolls June
* 1230 US Unemployment Rate June
* 1230 US Average Earnings YY June