Gold prices remained range-bound near US$2,640 during Tuesday's Asian trade, with traders avoiding significant bets ahead of key U.S. economic data including the ISM Services PMI and JOLTS Job Openings reports.
By 3:25 pm AEDT (4:25 am GMT) spot gold prices were up by $1.95 or 0.1% at US$2,638.19 per ounce.
Despite Monday's volatile session, gold remained trapped within a familiar trading range amid concerns over President-elect Donald Trump's proposed tariffs and subdued demand from global markets.
Adding to the downward pressure, Goldman Sachs has revised its forecast for gold, delaying its previous expectation of US$3,000 per ounce to beyond 2025.
Looking ahead, traders will closely monitor Trump's tariff policy developments, U.S. employment data, and Richmond Federal Reserve President Thomas Barkin's speech for insights into the Fed’s economic outlook and potential policy adjustments.