Spot Gold eased from a 1 1/2-week high near the $4,500 mark on likely profit taking following the recent rally, while the US Dollar held close to an over two-week high, exerting pressure on precious metals’ prices.
Investor focus now sets on the US data set, including ADP employment figures, job openings as well as Friday’s Non-Farm Payrolls report, which may provide fresh clues on the health of the economy and the Fed’s monetary policy path.
US private payrolls probably rose by 45,000 in December, according to market consensus, after businesses slashed 32,000 jobs in November.
And, job openings in the US probably decreased to 7.64 million in November from 7.67 million in October.
Fed Governor Stephen Miran said on Tuesday that aggressive policy easing was required to keep the economy moving forward.
FOMC policy makers had signaled just one 25 bps rate cut for 2026, while investors continue to expect two or three rate cuts of 25 basis points each.
Lower interest rates tend to reduce the opportunity cost of holding Gold, which pays no interest.
Spot Gold was last down 0.73% on the day to trade at $4,461.70 per troy ounce.
Gold had a notable rally last year due to a combination of factors such as strong central bank buying, US tariff policies, potential rate cuts by the Federal Reserve, robust ETF inflows and geopolitical uncertainty. The yellow metal registered its best annual performance since 1979 in 2025, gaining 64.7%.
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