Washington: Gold prices moved higher on Friday as the US dollar weakened and expectations increased that the Federal Reserve may soon cut interest rates. Investors turned to the safe metal as uncertainty grew over the US economy and the ongoing government shutdown.

Spot gold climbed about 0.7 percent to around 4005 dollars per ounce in early trade. The gain followed a drop in the US dollar index, which made gold more affordable for buyers using other currencies. The shift in market sentiment came after recent data showed slower growth in private sector jobs, with losses seen in government and retail positions.

Traders now see around a 67 percent chance that the Federal Reserve will reduce interest rates in December. That estimate is slightly higher than earlier in the week, suggesting

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