Gold prices remain steady near Wednesday’s all-time high as demand for the safe-haven asset is fueled by ongoing US-China trade tensions and expectations of further Federal Reserve rate cuts in 2025. A decline in US Treasury yields also supports gold, though a modest rebound in the US Dollar and a positive stock market sentiment limit additional gains.
The recent US economic data showed mixed results, with private-sector job growth slightly exceeding expectations but the ISM Services PMI weakening. Lower bond yields and rate cut expectations pushed gold higher, while Fed officials remain cautious about immediate policy moves. Investors now turn their focus to the US Nonfarm Payrolls report on Friday for further market direction.


