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Gold Extends Gains Ahead Of US Jobs Data

Gold prices rose for a fourth straight session on Friday amid safe-haven buying as weak U.S. service sector survey deepened concerns over economic growth.

Spot gold edged up 0.3 percent to $1,509.08, after having hit its highest level since Sept. 25 at $1,518.50 in the previous session. U.S. gold futures were up 0.1 percent $1,515.

U.S. services sector activity slowed to a three-year low in September amid rising concerns about tariffs, a survey showed on Thursday, reinforcing investor worries raised by the weak manufacturing and private sector jobs data released earlier this week.

All eyes now turn to a key U.S. jobs report out later in the day that could signal further U.S. rate cuts.

Two U.S. Federal Reserve policymakers on Thursday signaled they are open to delivering another rate cut, while Vice Chairman Richard Clarida said the central bank will do what it takes to keep the longest U.S. economic expansion alive.

The U.S. dollar was flat against a basket of major currencies in European trade.

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