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Commodities

Gold Prices Steady Amid Mideast Tensions and Job Data Fears

Guavy AI Editorial Team
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Gold
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Gold prices stabilized on Tuesday as investors weighed Middle East tensions and awaited crucial US labor market data that could influence Federal Reserve monetary policy decisions.

The spot price of gold hovered at $4,454.68 per ounce, its lowest level since August 19, while US gold futures for December delivery rose 0.5% to $4,503.70.

Key economic indicators this week include job openings, the ADP employment report, and non-farm payrolls data, which will provide insight into labor market health and interest rate expectations.

According to the CME FedWatch Tool, traders currently see a 65% chance of a September US rate hike.

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