Gold eases on inflation concerns; US payrolls data in focus

Gold prices eased on Friday ‌as inflation concerns reinforced expectations that interest rates would remain higher for longer, though bullion remained on track for a weekly gain as investors awaited key US payrolls data later in the ​day.

Spot gold fell 0.6 percent to $4,063.39 per ounce by 0248 GMT, but was up ​4 percent so far this week. US gold futures for December delivery dropped 1 percent to $4,072.90.

Among other metals, spot silver rose 0.3 percent ​to $51.91, platinum gained 0.4 percent to $1,523.63 and palladium fell 0.2 percent to $1,029.22. All three metals were headed for weekly gains.