By Ranjeetha Pakiam and Eddie Van Der Walt
Gold headed for a second weekly advance as investors focus on a key jobs report in the U.S. due Friday after the Bank of England introduced a new stimulus package the previous day including its first interest-rate cut in seven years.
Bullion for immediate delivery was little changed at $1,361.57 an ounce at 11:03 a.m. in London, after a 0.2 percent gain on Thursday, according to Bloomberg generic pricing. The metal is up 0.8 percent this week.
The payrolls data will be watched for clues on the timing for the next rate increase by the Federal Open Market Committee. The BOE’s stimulus announced on Thursday to contain the fallout from the U.K. decision to quit the European Union was the latest measure from central banks and governments to support growth. Weak or negative interest rates have helped push gold 28 percent higher this year.