Gold Futures Eke Out Gain

"The data fit with last week's stronger-than-expected payrolls figures, further dissipating the notion of a first-quarter [Federal Reserve rate] cut," writes Ashraf Laidi, chief foreign-exchange analyst at CMC Markets, in a market brief.

The increasingly rosy picture for the U.S. economy, and the prospect of fed funds rates staying at 5.25%, helped lift the U.S. currency. One dollar was recently buying 120.47 yen, up from 119.62 yen late Wednesday. The euro was trading at $1.29, down from $1.2938 previously.

In the gold patch, Prudential upgraded shares of AngloGold Ashanti(AU Quote) to overweight from neutral and raised its stock price target to $50 from $37. The stock gained 1.3% to $44.39.

The Amex Gold Bugs Index climbed 0.2%, with shares of component company Meridian Gold(MDG Quote) up 2.5%.

Turning to base metals, copper contracts closed down half a cent at $2.659 a pound on the Comex.

Shares of diversified metals miners Rio Tinto(RTP Quote) and CVRD(RIO Quote) were up 2.5% and 1.7%, respectively.