Gold Holds Steady Amid Anticipation of Key U.S. Data

Gold prices remained stable on Wednesday after a 1% drop in the previous session, as investors eagerly await significant U.S. economic data set to be released this week, searching for clues about potential interest rate cuts.

As of 0028 GMT, spot gold was steady at $4207.43 per ounce. Meanwhile, U.S. gold futures for December delivery rose 0.5% to $4239.50 per ounce.

The CME Group's FedWatch tool indicates that markets are forecasting an 89% probability that the Federal Reserve will cut interest rates this month.

Investors are also looking forward to significant data this week, including the November jobs report, which is due today, and the September personal consumption expenditures index, scheduled for release on Friday.

U.S. President Donald Trump announced he would reveal his selection for the next Federal Reserve Chair early in 2026.

Regarding other precious metals, silver inched down 0.2% to $58.32 per ounce. Platinum declined 0.4% to $1631.10, while palladium slipped 0.6% to $1458.83.