Gold hit record high of 2,790.15 on Thursday
U.S. nonfarm payrolls data due at 1230 GMT
US Q3 labour costs growth smallest in more than 3 years

Nov 1 Reuters Gold prices ticked up on Friday and headed for a slight weekly gain, while investors braced for the U.S. payrolls data that could provide further clues about the Federal Reserve39;s interest rate outlook.

Spot gold rose 0.4 to 2,753.75 per ounce, as of 0540 GMT and up 0.2 for the week so far. Prices ended lower on Thursday after hitting a record high of 2,790.15.

U.S. gold futures rose 0.5 to 2,763.60.

Investors are still in the mindset of buying the dips and that strategy is still going to hold through the U.S. election, and maybe after that because there is going to be a lot of turmoil, said Marex analyst Edward Meir.

Democratic Vice President Kamala Harris held a marginal 46 to 43 lead over Republican former President Donald Trump, with a glum electorate saying the country is on the wrong track, a new ReutersIpsos poll found.

Gold prices gained more than 4 in October amid safehaven flows spurred by the Middle East tensions and U.S. election uncertainty.

Market focus is now on the U.S. nonfarm payrolls report, due at 1230 GMT, for clues about the health of the world39;s largest economy.

Traders see a 95 chance of a 25basispoint Fed rate cut next week.

With no signs of recession and inflation declining, the economy looks positive… the key now is how quickly the Fed will lower rates, Meir said….