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Indonesia News Portal for Traders | Financial & Business Updates

4 February 2026 22:29  |

Gold Trims Gains as Markets Weigh US Data and Fed Outlook

Gold pared earlier gains on Wednesday to trade just under the $5,000 mark, as investors assessed fresh US economic data and its implications for the Federal Reserve’s policy path, particularly after President Trump nominated Kevin Warsh as the next Fed chair.

With key labor-market releases delayed this week, attention turned to the ADP report, which showed private payroll growth undershooting expectations, while a stronger-than-forecast ISM services PMI pointed to resilient activity in the sector.

Bullion had surged more than 6% in the prior session, its biggest daily jump since 2008, after dip buyers stepped in following a sharp pullback earlier in the week.

Safe-haven demand also remained supported by geopolitical tensions after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, though the White House said US-Iran talks are still scheduled for Friday.

Source: Tradingeconomics.com

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