Gold Stabilizes Ahead of US Jobs Report

gold prices

Gold : stabilized around $1,770 an ounce on Thursday, holding close to its highest levels in a month, as investors awaited the monthly US jobs report that could provide more cues on the Federal Reserve’s tightening path.

Gold prices have been climbing in the past two weeks amid speculations that the US central bank may raise interest rates less aggressively in the coming months to avoid a recession.

However, several Fed officials recently pushed back against such expectations, signaling a strong intent to keep hiking rates until inflation abates.

Meanwhile, brewing tensions between the US and China after House Speaker Nancy Pelosi visited Taiwan are keeping markets on edge, making gold a viable option for safety should the situation escalate.

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