Spot gold marked its highest since September 15 at $1,325.86 on Thursday on a weaker dollar. It has risen over 1 percent so far this week. "The support for the gold continues to emerge on dips," said MKS PAMP trader Alex Thorndike, adding that the market would be in "wait and see mode" ahead of the US jobs data.
US private employers added 250,000 jobs in December, data from ADP Research Institute showed, the biggest monthly increase since March. Economists surveyed by Reuters had forecast a gain of 190,000 jobs. "There are some new long-positions after gold crossed $1,300 and they are trying to push prices up ... We can see people buying at corrections," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.