Gold heads for weekly gain as US stocks slide

Gold headed for a weekly advance as US equities fell after Meta suffered a historic share-price rout, while investors awaited a key jobs report for more clues on the US Fed's monetary policy path.

Gold headed for a weekly advance as US equities fell after Meta Platforms, Inc. suffered a historic share-price rout, while investors awaited a key jobs report for more clues on the US Federal Reserve’s (Fed's) monetary policy path.

The Facebook parent plunged 26 per cent on Thursday on the back of woeful earnings results, erasing about $251 billion in market value in the biggest one-day wipeout for any US company. Concerns over tightening monetary policy also contributed to the worst slide for American technology shares since 2020. Still, US equity futures rose on Friday as Amazon.com, Inc. reported a strong holiday