* US weekly jobless claims rise slightly
* US nonfarm payrolls report due on Friday
* Palladium down nearly 2%
(Updates prices as of 1804 GMT)
Oct 5 (Reuters) - Gold prices edged lower for a ninth straight session on Thursday, as U.S. data indicating tight labor market conditions raised worries about the Federal Reserve keeping interest rates higher for sometime.
Spot gold eased 0.1% to $1,819.98 per ounce by 2:04 p.m. EDT (1804 GMT). U.S. gold futures settled 0.2% lower at $1,831.80 per ounce.
“The whole narrative of holding rates higher for longer is the big reason why people are removing positions from gold as the opportunity cost of holding it has risen,” Bart Melek, head of commodity strategies at TD Securities, said.
Since advancing above the key $2,000-per-ounce level in early May, gold prices have fallen nearly 12% as a hawkish rhetoric on rates from the Fed has lifted bond yields to their highest level in 16 years.
Read the full article at: PRECIOUS-Gold extends decline for ninth day as fears of higher US rates weigh | Reuters