Gold prices edged higher on Thursday after a steep fall in the previous session, while a weaker U.S. dollar and global economic outlook concerns from rising  cases underpinned gold’s appeal.

The after a significant rise in the last session, which made the yellow metal less expensive for holders of other currencies.

U.S. private employers hired fewer workers than expected for a second straight month in August, a sign that labor market recovery was slowing as the pandemic drags on.

U.S. business activity and employment ticked up through late August, according to the Federal Reserve on Wednesday. However, economic growth was generally slow as  continued to challenge the re-opening efforts that fueled an early-summer rebound.

Gold’s rise is attributable to its reputation as a safe haven asset during times of political and financial uncertainty.