Gold prices were higher on the London spot market Friday, as the dollar softened somewhat following worse-than-expected jobs data out of the U.S.Spot gold GCQ5, +0.37% was up 0.4% at $1,167.60 a troy ounce in morning European trading.
Gold is priced in dollars, so it becomes cheaper to buy for those holding other currencies when the greenback softens. This often results in demand ticking higher and prices rising.
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