Gold prices strengthened on Friday and are expected to rise for the second consecutive week. Traders are waiting for US non-farm payroll data to determine the possible path of the US Federal Reserve's interest rate cut. "So far, gold has had a good week, benefiting from some weak US macroeconomic data," said Tim Waterer, chief market analyst at KCM Trade. Economic data released on Wednesday indicated a slowdown in the US economy, including weak services and ADP employment reports. Another report showed an increase in the number of initial unemployment claims in the US last week. "If non-farm payroll data is low, I expect investors to begin further anticipating the possibility of the Fed cutting rates in September, which could once again push gold to the $2,400 level," Waterer said.