Gold Steady Amid Fed Rate-Cut Hopes
Gold is steady in the early Asian trade amid Fed rate cuts hopes, which would bolster the appeal of the non-interest-bearing precious metal.
U.S. labor market data released on Wednesday added to a dovish policy backdrop, Sucden Financial analysts say in a note. The July JOLTS report showed a decline in job openings.
The figures underscored moderating labor demand and reinforce markets' expectations that the Fed will ease rates later this month, they add.
Spot gold is little changed at $3,588.52/oz.
Source: Marketwatch