- Gold prices rose slightly in Asian trading on Friday as investors sought more cues about U.S. interest rates from key payroll data due later in the day, while geopolitical tensions helped boost some demand for gold as a traditional safe haven.

- The yellow metal is currently on track to end the week at a calm pace, as it has faced pressure due to some uncertainty about the long-term direction of interest rates. The resilience of the dollar also impacted metal markets.

- Spot gold rose by 0.4% to $2,642.03 per ounce, while gold futures expiring in February rose by 0.6% to $2,663.72 per ounce.

- On the geopolitical front, the collapse of the French government and the failed attempt to impose martial law in South Korea helped sustain some demand for safe-haven assets. Tensions in the Middle East and between Russia and Ukraine also remained elevated.

- Focus is now entirely on the U.S. nonfarm payroll data for November, set to be released later on Friday. The reading is expected to show a sharp rebound in payroll growth compared to October when disruptions affected the labor market.

- Friday’s reading is likely to influence expectations about interest rate cuts. Strength in the labor market gives the Fed less impetus to cut interest rates.

- The nonfarm payroll data also comes just weeks before the Fed’s final meeting for the year, where the central bank is expected to cut rates by 25 basis points. However, recent comments from Fed officials, along with the potential for expansionary policies under incoming President Donald Trump, have raised doubts about interest rates in the coming years.

- Federal Reserve Chairman Jerome Powell recently highlighted the strength of the U.S. economy, noting that it gives the Fed more room to consider further rate cuts.

- Higher interest rates for a longer period are considered to put pressure on gold prices and non-yielding assets, as they increase opportunity costs.

- On the other hand, other precious metals rose on Friday but are set to post losses for November. Platinum futures rose by 0.7% to $951.55 per ounce, while silver futures rose by 1.3% to $31.935 per ounce.

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