Markets are focused on the release of new US employment data, which will provide a critical update on the labor market following a robust April print.
The latest figures are expected to clarify whether the recent strength in job creation is sustainable or if the market is facing a potential slowdown.
In the lead-up to the new data, gold prices have climbed to $4,058, driven by soft jobs data from other regions and falling oil prices that have weighed on risk sentiment.
The April nonfarm payrolls report showed a significant surge of 115,000 jobs, more than doubling the 55,000 increase forecast by Dow Jones consensus estimates.
The unemployment rate held steady at 4.3%, underscoring continued stability in the labor market despite broader economic uncertainties.
This unexpected strength has shifted market expectations and influenced recent asset pricing.
In the lead-up to the new data, gold prices have climbed to $4,058, driven by soft jobs data from other regions and falling oil prices that have weighed on risk sentiment.