FX.co ★ Gold Holds Steady Ahead Of Fed Speeches

Gold prices saw marginal gains on Thursday as traders reassessed the path of interest rates. The yield on the 10-year Treasury yield edged up slightly in European trade, offsetting weakness in the dollar index.

Spot gold edged up 0.1 percent to $1,822.90 per ounce, while U.S. gold futures were up 0.10 percent at $1,836.70.

The precious metal looks set to end an eight-session losing streak as a bond selloff abated and the dollar came off from its recent highs after the release of weak U.S. economic data released overnight.

On Wednesday, data showed that U.S. private-sector employers added 89,000 jobs in September, the fewest since January 2021 - helping calm some fears over high interest rates.

A separate report revealed activity in the U.S. services sector slowed in September.

Traders now eye weekly unemployment claims data as well as comments from Fed speakers Barkin, Mester and Kashkari later in the day for further direction.

The more-closely watched U.S nonfarm payrolls report is due on Friday.

Economists expect U.S. employment to increase by 170,000 jobs in September after an increase of 187,000 jobs in August.

The unemployment rate is expected to edge down to 3.7 percent from 3.8 percent.