Gold Stable Awaiting US Employment Report

Gold steadied near $900 an ounce in London on Thursday, with investors trading cautiously ahead of Friday's U.S. employment report, which may determine the metal's short-term direction< Reuters reported.

Spot gold traded at $898.20/899.10 an ounce at 1015 GMT, nearly unchanged from $898.00/898.70 late in New York on Wednesday, when it jumped 1 percent after oil surged, boosting its appeal as a hedge against inflation.

"We're in a little bit of a holding pattern at the moment," said Tom Kendall, metals analyst at Mitsubishi Corp.