Gold inched lower on Friday as Asian stocks and the dollar firmed after upbeat U.S. private sector job figures appeared to boost the prospects for an interest rate hike this month.
FUNDAMENTALS
* Spot gold had dropped 0.2 % to $1,262.95 per ounce by 0054 GMT. It has fallen 0.3 % for the week and could register its first weekly decline in four weeks.
* U.S. gold futures fell 0.4 % to $1,265.60 an ounce.
* The dollar hit a one-week high against the yen early on Friday and was last at 111.61 yen.
* MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 %.
* The U.S. Federal Reserve sent a strong signal on Thursday that it would raise interest rates this month and soon begin shedding some of its $4.5 trillion in bond holdings, despite some weak recent U.S. inflation readings.
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