Gold stabilized after three consecutive days of gains, and key US employment data will be released later on Thursday. This data may affect the outlook for the Federal Reserve's monetary easing path. Gold rose more than 2% earlier this week and is currently trading close to $3,353 an ounce. Traders are focusing on the upcoming non-farm payrolls report, which is expected to show the US economy added 106,000 new jobs in June, the lowest level in four months. On Wednesday, another data from the ADP Research Institute showed that US corporate employment declined for the first time in two years, prompting traders to increase their bets on cutting interest rates at least twice by 2026. Significant deterioration in the labor market may force officials to cut interest rates as early as this month, although Federal Reserve Chairman Jerome Powell emphasized the resilience of the labor market and emphasized adopting a “wait-and-see” attitude to assess the impact of tariffs on inflation. Lower borrowing costs are often beneficial to gold because gold does not generate interest. Since this year, the price of gold has risen by more than a quarter, and is currently only about $150 short of the record set in April. As investors face heightened geopolitical and trade tensions, safe-haven demand has boosted the price of this precious metal. Strong gold purchases by central banks and capital inflows from gold-backed exchange-traded funds also supported the rise in gold prices. At the same time, concerns about America's deficit persist. President Donald Trump's comprehensive tax and spending bill is expected to increase US debt by about $3.4 trillion over a decade. If the bill, which is currently being considered by the House of Representatives, is passed, the safe-haven appeal of gold may further increase. Investors continued to monitor the progress of US trade negotiations after Trump said he had reached an agreement with Vietnam. As the July 9 deadline for raising tariffs gets closer, there are signs that investors are less concerned about the president's erratic stance on tariffs, given the current apparent resilience of the US economy. Currently, spot gold is almost flat at $3353.10 an ounce. The Bloomberg Dollar Spot Index remained stable. Silver rose more than 1%, while palladium and platinum declined.

Gold stabilized after three consecutive days of gains, and key US employment data will be released later on Thursday. This data may affect the outlook for the Federal Reserve's monetary easing path. Gold rose more than 2% earlier this week and is currently trading close to $3,353 an ounce. Traders are focusing on the upcoming non-farm payrolls report, which is expected to show the US economy added 106,000 new jobs in June, the lowest level in four months. On Wednesday, another data from the ADP Research Institute showed that US corporate employment declined for the first time in two years, prompting traders to increase their bets on cutting interest rates at least twice by 2026. Significant deterioration in the labor market may force officials to cut interest rates as early as this month, although Federal Reserve Chairman Jerome Powell emphasized the resilience of the labor market and emphasized adopting a “wait-and-see” attitude to assess the impact of tariffs on inflation. Lower borrowing costs are often beneficial to gold because gold does not generate interest. Since this year, the price of gold has risen by more than a quarter, and is currently only about $150 short of the record set in April. As investors face heightened geopolitical and trade tensions, safe-haven demand has boosted the price of this precious metal. Strong gold purchases by central banks and capital inflows from gold-backed exchange-traded funds also supported the rise in gold prices. At the same time, concerns about America's deficit persist. President Donald Trump's comprehensive tax and spending bill is expected to increase US debt by about $3.4 trillion over a decade. If the bill, which is currently being considered by the House of Representatives, is passed, the safe-haven appeal of gold may further increase. Investors continued to monitor the progress of US trade negotiations after Trump said he had reached an agreement with Vietnam. As the July 9 deadline for raising tariffs gets closer, there are signs that investors are less concerned about the president's erratic stance on tariffs, given the current apparent resilience of the US economy. Currently, spot gold is almost flat at $3353.10 an ounce. The Bloomberg Dollar Spot Index remained stable. Silver rose more than 1%, while palladium and platinum declined.