Gold stabilizes and the dollar reaches its highest levels in 3 months

Gold prices stabilized today, while the dollar approached its highest level in three months. This comes as traders await US private sector jobs data to obtain further indications about the path of interest rates and monetary policy of the Federal Reserve (the US central bank).

Gold settled in spot transactions at $4,006.02 per ounce by 1129 GMT. US gold futures for December delivery gained 0.5 percent, reaching $4,017.40. The dollar index, which measures the performance of the US currency against a basket of six major currencies, approached its highest level in three months, making gold more expensive for holders of other currencies.