A weaker than expected payrolls report may boost the case for delaying QE tapering, supporting the precious metal, a hedge against the inflationary risk of monetary stimulus.
At the same time, Thursday's data showed that US economic growth accelerated in Q3, 2013, resulting in selling pressure in the precious metal.
Gold futures for December 2013 contract, at MCX, were trading at Rs. 29,915 per 10 grams, down by 0.02 per cent after opening at Rs. 29,986, against the previous closing price of Rs 29,920. It touched an intra-day low of Rs 29,893. (At 10:56 AM).