Gold held a decline before a U.S. nonfarm payrolls report on Friday that could bolster the case for an interest-rate rise after private jobs data showed an increase in hiring.

Bullion for immediate delivery was at $1,115.85 an ounce at 8:45 a.m. in Singapore from $1,115.09 on Wednesday, when prices fell 1.1 percent to the lowest close in two weeks, according to Bloomberg generic pricing.

Gold fell for five straight quarters as the U.S. prepares to raise borrowing costs amid an improving economy, denting the metal’s appeal because it doesn’t pay interest. American companies stepped up hiring in September, indicating the jobs market is standing firm in the face of weaker global demand, figures from the ADP Research Institute showed Wednesday. Labor Department data on Friday are projected to show payroll gains accelerated last month compared with August.

Source: Bloomberg