The yellow metal is trading flat below $4,100 heading into the weekend after the release of the US September jobs report, which outperformed market expectations.
At 9:30 AM, gold was at $4,062, down 0.38% since it opened early Friday in Asian trading.
The US Bureau of Labor Statistics (BLS) revealed that Nonfarm Payrolls (NFP) for September rose by 119,000, exceeding estimates of 50,000.
The Unemployment Rate also reached 220,000, the lowest level since September, indicating that the labor market is still stable.
Following the data release, Fed officials changed their signals to 'hawkish', with Cleveland Fed President Beth Hammack and Fed Governor Michael Barr stating in their statements that concerns about inflation rebounding.
Financial markets are pricing in a 39% chance of a 25 basis point rate cut by the Fed at its December meeting, up from 30% a day earlier.
Expectations for a rate cut weakened on Wednesday as minutes from the October Federal Open Market Committee (FOMC) meeting revealed that most market players are leaning towards a cut in the fed funds rate at the December meeting.
