Gold Rangebound as Investors Brace for Key US Economic Data

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key US economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Spot gold was flat at $2,655.03 per ounce. Prices hit a record high of $2,685.42 on Sept. 26. US gold futures gained 0.2% to $2,675.40. Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the US non-farm payroll data expected on Friday. Spot silver fell 0.9% to $31.58, platinum shed 0.5% to $997.90 and palladium lost 1.3% to $1,001.80. Source: Qatar News Agency