Gold remained rangebound around the US$4,200 mark during Thursday's Asian trade as traders balanced bullish momentum against profit-taking, awaiting fresh United States jobs data for clues on the Federal Reserve’s interest rate trajectory beyond December’s policy meeting.
By 4 pm AEDT (5 am GMT), spot gold was trading slightly lower at US$4,196.44 per ounce, down 0.1%.
U.S. data released on Wednesday further boosted expectations of a Federal Reserve rate cut next week, with the ADP employment change revealing a private payrolls decline of 32,000 in November, after a revised gain of 47,000 in October. Markets were expecting a 10,000-job increase.
Meanwhile, the Institute for Supply Management (ISM) Services PMI edged up modestly to 52.6 from 52.4 in October, ahead of 52.1 expected.
Markets continued to price in roughly an 87.8% probability of a 25-basis-point Fed rate cut at next week’s December meeting, according to the CME Group FedWatch Tool.
With a December rate cut widely anticipated, investors are now watching for signals on the Fed’s policy path into early 2026.
