Gold remained choppy on Tuesday as traders worked through a heavy batch of US economic data, with no clear signal on the Federal Reserve’s next move.
The metal has seen sharp two-way price action over recent sessions. Friday’s sell-off was quickly reversed on Monday, only for gains to fade again, leaving gold trapped in a roughly $70 range.
At 19:20 GMT, spot gold was trading at $4,307 after earlier touching a session high of $4,335.
Markets focused on delayed US labour data, released after the record-long federal government shutdown. Nonfarm payrolls rose by 64,000 in November, beating forecasts of 50,000, while the unemployment rate edged up to 4.6%, slightly above expectations.
The mixed labour picture offered little clarity for policymakers, reinforcing uncertainty ahead of Thursday’s consumer price index report for November. Inflation and employment remain the Fed’s two key inputs as it weighs its next policy decision.
Gold has posted strong gains in 2025 as US rates declined and economic uncertainty increased. However, near-term direction remains dependent on incoming inflation data and confirmation that monetary easing is still on track.