Gold steadies above $1,250 at the week's open

Gold prices tilted higher in American trade as the dollar index steadied near the highest since November 22, ahead of US data and the Federal Reserve policy meeting tomorrow in Washington. 

As of 03:44 GMT, gold futures due on February 15 rose 0.05% rose $1,249.00 an ounce from the opening of $1,248.40, while the dollar index dipped 0.05% to 93.86 from the opening of 93.90. 

Friday data showed the US unemployment rate steadied at 4.1% as expected in November, matching the October reading and holding at the lowest rate since December 2000.

US average hourly earnings rose 0.2% in November, missing expectations of a 0.3% rise, while improving from October's 0.1% dip, revised from no-change. 

The US economy added 228 thousand new jobs in November, beating expectations of 198 thousand, and compared to October's 244K, revised from 261K. 

Goldman Sachs has recently projected four Fed rate hikes in 2018, while raising US growth forecasts to 2.5% from 2.4%, and cutting the unemployment rate projections to 3.7%. 

Fed policymakers will unveil their forecasts for three-year inflation, unemployment, growth, and interest rates later this week, as analysts expect them to go ahead of hike rates by 25 basis points in this week's meeting.