Gold rises on softer dollar

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, +0.34%  was up 0.4% at $1,167.60 a troy ounce in morning European trading.

The dollar DXY, -0.05%  was lower against a basket of currencies, including the euro, sterling and the yen.

On Thursday, U.S. nonfarm payrolls came in at 223,000 in June — down from the 254,000 jobs added in May and below economists expectations of 233,000 jobs. The unemployment rate fell to 5.3%, from 5.5% in May. Economists had expected a decline to 5.4%.

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