02:00 PM EDT, 05/02/2025 (MT Newswires) -- (Updates prices.)

Gold traded higher mid-afternoon on Friday following two days of losses as the dollar fell after a better-than-expected U.S. jobs report pushes investors to add risk.

Gold for June delivery was last seen up US$19.70 to US$3,241.90 per ounce.

The U.S. Bureau of Labor Statistics on Friday reported nonfarm payrolls rose by 177,000 new jobs in April, down from a revised 185,000 in March, but well ahead of the consensus estimate for a rise of 133,000 positions, according to Marketwatch.

The report comes as China said its is considering a U.S. proposal to hold trade talks. However the country wants the Trump Administration to cut the 145% tariff it imposed on Chinese imports last month before it is willing to negotiate.

China's statement is the first sign the world's two largest economies could take steps to end a trade war that has rattled global markets. European stock markets were broadly higher on Friday as investors move to risk assets, while futures point to a higher open for U.S. exchanges.

The dollar traded lower early, with the ICE dollar index last seen down 0.4 points to 99.85. Treasury yields rose on falling bond prices, with the U.S. two-year note last seen paying 3.836%, up 12.5 basis points, while the yield on the 10-year note was up 10.0 points to 4.321%.