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Gold stays steady before U.S. jobs report
Gold prices remained steady at $4,477.10 per ounce, as markets await the upcoming US employment data, which will determine the Federal Reserve's decision regarding interest rate hikes. Analysts anticipate that weak job figures or rising unemployment rates could reduce the likelihood of interest rate increases, potentially supporting higher gold prices. Conversely, there is a 50% chance of a rate hike this month, with the market heavily relying on central bank demand. While high interest rates continue to negatively impact the precious metal, which does not generate income, there are notes of stability in the US labor market and expectations of volatility with inflation data slated for release next week.
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