Gold Price Steady Near $3,350 Awaiting US Data for Direction

Gold Price Consolidates Near $3,350 Ahead of US Data Releases

Gold Range-Bound as Market Eyes Fed Policy and US Economic Indicators

The Gold price (XAU/USD) remains stuck near the $3,350 level early Wednesday in Europe, with the precious metal lacking strong momentum as traders await fresh catalysts from upcoming US macroeconomic data.

Fed Easing Bias and Fiscal Concerns Underpin Bullion

Persistent market speculation that the Federal Reserve will cut rates further in 2025, combined with growing anxiety about US fiscal imbalances, is keeping the US Dollar on the defensive. This supports gold, a non-yielding asset, as investors seek alternative stores of value.

Geopolitical Tensions, Trade Volatility Offer Safe-Haven Tailwinds

Trade uncertainty between the US and China—especially ahead of a potential meeting between President Trump and President Xi—as well as geopolitical flashpoints globally, are also reinforcing the case for gold's safe-haven demand.

Key Data to Watch – ADP Jobs Report and ISM Services PMI

Today’s focus will be on:

• US ADP Private Payrolls (May): A strong print may pressure gold by lifting USD.
• ISM Services PMI: Weak data could reinforce Fed cut bets and benefit gold.

Related: How US Jobs Data Affects Gold Prices

Technical Snapshot

• Support: $3,330 / $3,310
• Resistance: $3,365 (YTD high) / $3,390
• Trend Bias: Neutral to bullish above $3,330

Internal Link Suggestions:

• Live Gold Chart (XAU/USD)
• Federal Reserve Rate Cut Tracker
• Gold vs USD Correlation Explained