May 2 (Reuters) - Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss.
Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22.
U.S. gold futures rose 1.3% to $3,262.10.
China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks.
"Gold looks like $3,500 may be a top for a little while, especially if some trade deals start to come through and some risk on appetite starts to break through the kind of negative euphoria that we've been seeing since the tariff talks," said Daniel Pavilonis, senior market strategist at RJO Futures.
Gold prices briefly pared gains earlier in the session after data showed nonfarm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March. A Reuters survey had forecast an increase of 130,000 jobs.
However, the report is backward-looking and it is too early for the labor market to show the impact of U.S. President Donald Trump's on-and-off-again tariffs policy.
Traders trimmed bets that the Federal Reserve will cut rates as soon as June after the jobs report.
Yield on benchmark 10-year Treasury bonds rose. Higher interest rates tend to make non-yielding bullion less appealing to investors.
Spot silver edged 0.1% lower to $32.35 an ounce, platinum rose 1% to $967.70, and palladium gained 0.9% to $949.00. All three metals were on track for weekly declines.
Reporting by Anjana Anil and Sarah Qureshi in Bengaluru; Editing by Shreya Biswas
