• Trump and Xi agree to more talks as trade disputes brew
• US non-farm payroll data due at 1230 GMT
• Silver hits over 13-year high

June 6 (Reuters) - Gold firmed on Friday and was poised for a weekly rise after U.S. data this week boosted hopes of interest rate cuts by the Federal Reserve, while silver hit a more than 13-year high.

Spot gold was up 0.2% at $3,359.26 an ounce, as of 1151 GMT. Bullion has gained 2.1% for the week so far.

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U.S. gold futures climbed 0.2% to $3,382.70.

"The disappointing jobless claims data, indicating potential labour market weakness, has had a more substantial impact on gold prices than the optimism stemming from President Trump's call with President Xi," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

U.S. President Donald Trump and Chinese leader Xi Jinping held a rare call on Thursday amid trade tensions and a dispute over critical minerals.

The number of Americans filing new applications for unemployment benefits increased to a seven-month high last week, the Labor Department showed Thursday.

Markets are now eyeing the upcoming U.S. non-farm payroll report, due at 1230 GMT, after a series of data releases this week signalled softness in the labour market.

Economists polled by Reuters forecast non-farm payrolls increased by 130,000 jobs in May, while the unemployment rate is expected to remain steady at 4.2%.

"A softening U.S. labour market would likely increase pressure on the Fed to ease monetary policy, especially if payrolls disappoint," Zumpfe added.

Gold, traditionally considered a safe-haven asset during political and economic uncertainty, tends to thrive in a low-rate environment.

Meanwhile, spot silver fell 0.1% to $36.11 per ounce, after hitting a more than 13-year high earlier in the session, propelled by robust industrial demand and ongoing supply deficits.

Platinum rose 2.4% to $1,157.11, its highest level since March 2022, while palladium was up 1.5% at $1,020.75.

Gold is struggling really to break higher in the short term, driving investors toward undervalued silver and platinum, said Ole Hansen, head of commodity strategy at Saxo Bank.

https://www.reuters.com/world/china/gold-rises-weak-us-data-offsets-optimism-trump-xi-call-2025-06-06/