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Gold slips amid US data
Gold prices fell on Thursday amid profit-taking after hitting a near four-week high in the previous session, as investors awaited a jobs report due on Friday for clues on the path the US Federal Reserve will take on interest rates in 2025.
Spot gold was down 0.1% at $2,659.62 an ounce by 0353 GMT, while US gold futures were up 0.2% at $2,678.30.
"Prices are trading in a tight range and there is some profit-taking. There is a need for a fresh catalyst for gold to break through the resistance level," said Ajay Kedia, director of Kedia Commodities in Mumbai.
Gold hit a near four-week high in the previous session after a weaker-than-expected US private sector employment report suggested the US central bank may be less cautious in cutting interest rates this year.
Gold is often seen as a hedge against inflation, but higher interest rates make non-yielding assets less attractive.
In other precious metals, spot silver was flat at $30.12 an ounce, platinum fell 0.3% to $952.95 and palladium fell 0.2% to $926.50.
