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Gold fell, on Friday, to stay near the important level of 1,800 dollars an ounce, as it came under pressure from the stronger dollar, while investors awaited the US jobs report for indications on the position of the Federal Reserve on policies.

And gold fell in spot transactions 0.3% to $ 1799.46 an ounce; It is heading for its worst weekly performance since mid-June.

US gold futures fell 0.4% to $1,802.50.

“If we get a mix of really strong employment numbers that come on the back of a tightening rhetoric from the Federal Reserve, I think that will spook any interest rate sensitive markets like gold,” said Stephen Innes, managing partner at SBI Capital Asset Management.

“That’s why we’re seeing risk reductions right now.”

But he added that a complete collapse of gold is highly unlikely and that the $1790 support level should hold.

Concerns about a gradual easing of stimulus began after Federal Reserve Vice Chairman Richard Clarida said conditions for an interest rate increase could be met in late 2022, and that the central bank could begin to scale back its asset purchase program this year.

Christopher Waller, a member of the bank’s board of governors, said he sees the potential to reduce accommodative policy sooner than some expect, given the progress of the economic recovery and the improvement of the labor market.

The rise in interest rates reduces the opportunity cost of owning the yellow metal, which does not yield a return.

The dollar index rose 0.1%, which reduces the attractiveness of gold to holders of other currencies.

The US non-farm payrolls report is due out.

As for other precious metals, silver settled at $25.12 an ounce, and fell by 1.4% in the week.

Platinum fell 0.4% to 1001.66 and is on track to record the biggest weekly drop since June.

Palladium rose 0.2% to $2,652.93.