Commodities
Gold Prices Steady as Market Awaits Key US Labour Data Amid Middle East Tensions
Gold prices stabilized on Tuesday as market participants weighed Middle East tensions and awaited key US labour market data, which could influence expectations for Federal Reserve monetary policy.
Spot gold held steady at $4,454.68 per ounce by 0057 GMT, following a decline to its lowest level since August 19 in the previous session.
US gold futures for December delivery rose 0.5% to $4,503.70, ahead of crucial data releases this week, including job openings, the ADP employment report, and nonfarm payrolls.
The Federal Reserve's interest rate outlook remains a key concern, with traders currently seeing a 65% chance of a September US rate hike according to the CME FedWatch Tool.