After two days of rising, gold prices have stabilized, according to Bloomberg.

Gold has stabilized following a two-day increase as traders considered the prospects of a monetary policy easing by the Federal Reserve ahead of the release of key employment data set to be published this week.

According to Bloomberg.

Gold was trading at $2660 per ounce after a 0.5% rise on Wednesday, when a report indicated that job growth and wages in the U.S. private sector slowed in December. The Fed will need to balance this with new inflation concerns when deciding on interest rate cuts, and the minutes from last month's central bank meeting confirmed a cautious approach to easing, Bloomberg reports.

Lower borrowing costs are generally positive for gold, which does not offer interest.

Currently, traders are turning their attention to the employment data for December, which will be released on Friday, and is expected to show moderate but still healthy job growth, which economists anticipate will continue into 2025.

Last year, the price of bank metals increased by 27%, marking a record high, partly due to the easing of U.S. monetary policy, but after Trump's victory in the U.S. elections, the dollar's growth slowed.

Background. Previously, Mind reported that gold rose to $2430 per ounce, reaching a new record after the latest U.S. economic data strengthened the assumption that the Federal Reserve may lower interest rates at least twice this year.