Gold prices underwent volatility on Friday after news that the U.S. is planning to slap another $100 billion tariffs on China.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange slipped $1.40, or around 0.1%, to $1,327.10 a troy ounce at 4:21AM ET (8:21GMT).

Having closed a day earlier at $1,328.50, gold traded Friday in a range from $1323.20 to $1,336.70.

Easing downward pressure on gold prices, the dollar pared earlier gains mid-morning European trade on Friday as investors looked ahead to the monthly employment report and an appearance by Federal Reserve chief Jerome Powell.

At 4:22AM ET (8:22GMT), the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last up 0.12% to 90.23.

A stronger greenback makes the dollar-denominated metal more expensive for holders of other currencies.

With regard to the jobs report for March to be released at 8:30AM ET (12:30GMT), economists expect the creation of 193,000 nonfarm payrolls.

Signs of increasing wage growth in that report could underline the case for the Federal Reserve to raise interest rates at a faster pace.

Powell will have an opportunity to comment on the employment report when he speaks on the economic outlook at 1:30PM ET (17:30GMT).

Expectations of rising rates tend to boost the dollar by making the currency more attractive to yield-seeking investors. At the same time, gold suffers due to not only the weaker greenback but tends to be less attractive as a non-yield bearing asset with rates on the rise.