PRECIOUS-Gold on track for weekly gain on Trump uncertainty; US jobs report awaited

* US non-farm payrolls report due at 1330 GMT * Silver will recover along with gold in H2, 2025- DB * Silver, platinum, and palladium poised for weekly gains (Updates with mid-session trading) By Rahul Paswan Jan 10 (Reuters) - Gold prices inched higher on Friday as uncertainty around U.S. President-elect Donald Trump's policies firmed demand for bullion, while investors awaited a key jobs report to assess the Federal Reserve's rate cut trajectory. Spot gold XAU= edged 0.2% higher to $2,675.49 per ounce as of 0725 GMT. Bullion has gained more than 1% so far this week, set for its highest weekly jump since mid-November. U.S. gold futures GCcv1 rose 0.3% to $2,698.30. The U.S. non-farm payrolls report is due at 1330 GMT. According to a Reuters survey, payrolls are expected to have increased by 160,000 in December, following a jump of 227,000 in November. "We expect gold to drop a little in case the non-farm payroll report comes on a higher side," said Jigar Trivedi, senior analyst at Reliance Securities. "Gold found support after a weaker-than-expected private employment report for December reinforced the notion that the Fed may need to adopt a less cautious approach to rate cuts," Trivedi said. Kansas City Fed President Jeff Schmid on Thursday signalled a reluctance to cut rates again as the Fed faces a resilient economy and inflation that remains above its 2% target. Trump's proposed tariffs and immigration policies may also prolong the fight against inflation. Traders now expect the first Fed rate cut this year in either May or June, according to the CME FedWatch Tool. Gold acts as a hedge against inflation, but higher interest rates reduce the appeal of holding the bullion. Spot silver XAG= was up 0.3% to $30.2 per ounce and the COMEX contract Slc1 was trading at $31.17, both near one-month peaks. "Our view is that the incoming U.S. administration will tailor economic and trade policy to promote national prosperity, and that silver will recover along with gold in the second half (of 2025) to $35 per ounce," Deutsche Bank said in a note. Platinum XPT= shed 0.4% to $955.97 and palladium XPD= added 0.9% to $934.16. All three metals were also set for weekly gains. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Spot gold price in USD per oz https://reut.rs/4fPlkCd ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Rahul Paswan and Swati Verma in Bengaluru; Editing by Sherry Jacob-Phillips, Mrigank Dhaniwala and Varun H K) (([email protected] ; If within U.S. +1 646 223 8780;;))