Gold Steadies Above $4,300 Amid Weaker US Labour-Market Data

Gold prices remained steady above $4,300 an ounce on Monday, following last week's 7% gain and seven-week high. The stability comes after weaker-than-expected US labour-market data reduced expectations for a near-term Federal Reserve rate hike.

The US nonfarm payrolls unexpectedly fell by 23,000 in July, while previous months were revised lower. This led to markets reassessing the outlook for interest rates, supporting gold prices.

Market participants are now awaiting US CPI and PPI data due later this week, which could influence expectations for the Fed's future interest-rate decisions. Additionally, geopolitical developments surrounding the Strait of Hormuz remain a factor for oil prices, inflation expectations, and broader market sentiment.