Due to investors adjusting their positions ahead of the U.S. employment data release, gold futures have declined. Friday's U.S. non-farm payroll report is expected to further reveal the direction of the Federal Reserve's monetary policy easing, particularly the magnitude and scope of future rate cuts. BMI analysts noted in the report that gold is expected to be a standout commodity in 2024. With gold prices supported by the Federal Reserve's rate cuts and heightened geopolitical tensions, it is likely to demonstrate its resilience as a safe-haven asset in the first quarter of 2025. BMI expects that in the coming months, the trading price of spot gold will range between $2500 and $2800 per ounce.