Gold is headed for its second weekly loss

Gold prices stabilized today, but are heading towards decline for the second week in a row, while the focus is on US jobs data scheduled later Friday.

By 0022 GMT, gold in instant transactions recorded $2,631.60 per ounce, declining by about 0.8 percent since the beginning of the week.

US gold futures rose 0.3 percent to $2,654.70 an ounce.

Traders are awaiting the US jobs report in search of indicators on the path to lowering interest rates.

As for other precious metals, silver prices stabilized, recording $31.31 per ounce, platinum fell 0.3 percent to $935.99, and palladium rose 0.3 percent to $965.85.