Gold prices remain relatively stable near recent highs, as the market anticipates the US non-farm payroll report, which could significantly influence the Fed's decision on interest rates.
The weakening labor market, indicated by the lowest hiring levels in 3.5 years, suggests a potential for larger interest rate cuts that could positively impact gold prices.
Market participants are focused on the forthcoming US job data; weaker-than-expected job growth could lead to stronger expectations for rate cuts, subsequently boosting gold prices.
Economic uncertainties in both the US and China have bolstered gold demand, alongside robust central bank purchases and increased inflows into global gold ETFs.
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