Gold followed a horizontal course as investors waited for the US non-farm payroll report, which could shed light on the Fed’s interest rate path, while a new record came in the morning for gram gold.
Gold held steady as investors await Friday’s US nonfarm payrolls report, which could offer new clues about the Fed’s rate path.
Spot gold is trading at $1,922 an ounce. On the gram gold side, a new historical peak was seen with $ 62.12.
The precious metal fell 6 percent from the 2023 summit it saw in May, under the pressure of increasing hawkish rhetoric by Fed policy makers.
U.S. data on Monday showed factory activity slumped to its lowest level in more than three years, raising optimism that the Federal Reserve may pause the often negative rate hikes for the non-interest-bearing precious metal.