Gold dips as traders eye Fed rate cut and U.S. jobs data

Gold prices have taken a step back from their record highs as traders closely monitor developments around the U.S. Federal Reserve’s rate decisions and upcoming economic data. Spot gold slipped down from a peak earlier this week. Similarly, U.S. gold futures edged down. This decline in gold prices comes at a time when the market is highly sensitive to signals from the Federal Reserve. The minutes from the Fed’s July meeting suggest that officials are inclined towards a rate cut at the September meeting.

Read more to find out why gold dipped here.