Investing.com - Gold futures were higher on Friday, but gains were expected to remain limited as Thursday''s upbeat U.S. economic reports continued to support the greenback, while investors eyed an upcoming U.S. employment report.
On the Comex division of the New York Mercantile Exchange, gold for June delivery traded at $1,287.20 a troy ounce during European afternoon trade, up 0.28%.
The June contract settled 0.96% lower on Thursday to end at $1,283.4 a troy ounce.
Gold futures were likely to find support at $1,268.60 a troy ounce, the low from April 24 and resistance at $1,306.50, the high from April 28.
On Thursday, the Commerce Department reported that U.S. personal spending rose 0.9% in March, from an upwardly revised 0.5% the previous month and ahead of expectations of 0.6%.
Consumer spending is the single biggest source of U.S. economic growth, accounting for as much as two-thirds of economic activity.
Separately, the Institute for Supply Management said its manufacturing purchasing managers'' index rose to 54.9 last month from 53.7 in March, compared to expectations for a reading of 54.3.
The reports came a day after the Federal Reserve said it would reduce its bond purchases by $10 billion to a total of $45 billion a month, in a widely expected decision.
Investors were looking ahead to the upcoming April nonfarm payrolls report, which was expected to show that the recovery in the labor market was continuing.
Elsewhere on the Comex, silver for July delivery gained 0.68% to trade at $19.173 a troy ounce, while copper for July delivery advanced 0.56% to trade at $3.039 a pound.
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