Gold prices steady as investors await US data

Gold prices were steady on Thursday as investors awaited US wage data on Friday for further clues on the Fed’s monetary policy path.

By 0027 GMT, spot gold was at $2,648.89 an ounce, while US gold futures were down 0.1% at $2,672.60.

The US wage report is due on Friday, followed by November inflation data next week.

According to FedWatch, markets are now pricing in a 79.3% chance of a 25 basis point rate cut this month and 85 basis points by the end of 2025.

Federal Reserve Chairman Jerome Powell said yesterday that the economy was stronger than the central bank had expected in September when it began cutting rates, in an apparent signal of support for easing the pace of cuts in the future.

Among other precious metals, silver fell 0.1% to $31.31 an ounce, platinum fell 0.2% to $939.07, and palladium lost 0.3% to $975.48.