Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.
Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.
Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the U.S. non-farm payroll data expected on Friday.
Gold tends to thrive in a low interest rate environment and political turmoil.
Elsewhere, Perth Mint's gold product sales touched a 10-month high in September, while silver sales hit a seven-month high.
Persons:
Brian Lan, —, CME's, Lan
Organizations:
GoldSilver Central, Investors, U.S .
Locations:
Singapore, Israel, Beirut, Iran, Perth