US gold futures were down 0.4 percent, at $1,177 per ounce. "We can see a bit of profit-taking ahead of the nonfarm payroll data," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. A firm dollar will put pressure on gold prices ahead of Donald Trump's inauguration, he said.
Spot gold failed to break a resistance at $1,182 per ounce and it may either hover below this level or retrace to a support at $1,159, according to Reuters technical analyst Wang Tao. "The charts look a bit weak on the daily side and prices might come down to the around $1,160," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central.