Gold was largely unchanged, trading near $4,165 an ounce in early sessions, after experiencing a 0.3% dip in the preceding session. The market is keenly awaiting the Federal Reserve's June meeting minutes, which are expected to offer clarity on the trajectory of US interest rates.
Betting on tighter monetary policy by the Fed has softened recently following weaker-than-expected jobs data released last week. This data has influenced traders to temper their expectations for immediate interest rate hikes, providing some support for gold prices.
Gold had previously steadied near $4,190 an ounce, supported by reduced expectations for a US Federal Reserve rate hike. This followed a weekly gain of over 2%, marking its first such advance since May. The commodity's performance has been closely tied to the shifting outlook on monetary policy, with softer US jobs data and lower energy prices contributing to a less aggressive rate hike outlook.
