Gold steadied on Friday and was on track for its biggest weekly gain since January, helped by weaker oil prices, while investors awaited key U.S. nonfarm payrolls data for clues on the interest rate outlook.FUNDAMENTALSSpot gold was little changed at $4,235.57 per ounce, as of 0045 GMT, but was up 4.8% for the ‌week. U.S. ⁠gold futures ⁠fell 0.1% to $4,293.80.U.S. President Donald Trump told reporters that he believed the war ​with Iran would be over soon and said the armed forces were experiencing issues with ​supplies of some weapons.Crude oil prices were headed for a weekly loss. Lower energy prices help ease inflation concerns and reduce expectations of higher-for-longer interest rates. Gold is an inflation hedge, ⁠but elevated ‌interest rates tend to weigh on its appeal as it offers no yield. [O/R]Market participants braced for the U.S. Labor ⁠Department's employment report for July, scheduled for release at ​1230 GMT.Traders currently see a 55% chance of ​a U.S. rate hike in September, according to the CME FedWatch Tool.Federal Reserve Bank of St. Louis President Alberto Musalem added his voice to the chorus of central bankers who believed the central bank should have raised its interest rate target last week.The Fed held ‌its interest rate target range steady at 3.5% to 3.75% on July 29 despite inflation standing well above 2%.Data ​showed the ​number of Americans filing ⁠claims for unemployment benefits increased slightly last week, while layoffs dropped to a two-year low in July, consistent with a stable labour market.Among other ​metals, spot silver lost 0.4% to $61.26 per ounce, platinum fell 0.5% to $1,720.75 and palladium dropped 0.5% to $1,363.50. DATA/EVENTS (GMT) 0600 Germany Industrial Output MM Jun0600 Germany Industrial Production YY Jun0600 UK Lloyds House Prices MM, YY Jul1230 US Non-Farm Payrolls Jul1230 US Unemployment Rate Jul1230 US Average Earnings YY JulChina Exports, Imports YY JulChina Trade Balance USD Jul