Gold prices slipped on Friday in Asia ahead of the release of the much-anticipated job report data due later in the day.

Gold Futures traded 0.2% lower to $1,566.85 by 1:42 AM ET (05:42 GMT).

The fall in gold prices came even after Asian equities traded mostly lower today, with Hong Kong’s stocks losing about 0.5%.

The coronavirus outbreak continued to spread today, as China reported this morning that the death toll climbed to 636.

Meanwhile, reports that Chinese President Xi Jinping and his U.S. counterpart Donald Trump held a conversation and reaffirmed their commitment to implementing Phase 1 of the trade deal were cited as a headwind for the safe-haven metal.

On Thursday, China has moved to lower tariffs on $75 billion in U.S. imports, as part of its recent partial trade agreement with the U.S.

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