According to Jinshi, investors are waiting for the latest Fed meeting minutes for further clues about its path of rate cuts. The dollar remains on the defensive after Fed Chairman Powell made dovish remarks, making gold more attractive. Marex analyst Edward Meir said that the gold market has been fluctuating in a narrow range for several weeks, and it is expected that gold prices may rise later this year as the election approaches. Tim Waterer, chief market analyst at KCM Trade, believes that if expectations of rate cuts change, the non-farm payrolls data released this week may shake the gold market.
