Gold Steady as US Payrolls Data Grabs Limelight

Gold prices held steady today as investors braced for a monthly US payrolls report that could influence how swiftly and deeply the Federal Reserve cuts interest rates this year (2024). Spot gold held its ground at $2,493.34 per ounce, after hitting its lowest level in more than a week on Tuesday. US gold futures were nearly unchanged at $2,524.80. So far this year, gold has gained 21%, hitting an all-time high of $2,531.60 on 20 August 2024 driven by US rate cut bets and the Middle East concerns. Spot silver fell 0.4% to $27.94 per ounce, platinum gained 0.2% to $904.65, and palladium was flat at $938.57. Source: Oman News Agency