The yellow metal recovered slightly after recording declines since the end of last week as the US dollar began to pare some of its gains. This was due to the fall in US Treasury yields and the US labor market report.
At 9.20 am, gold prices were at $3,332.47, up 0.18% since it opened in early trading Wednesday in the Asian session.
The US Bureau of Labor Statistics (BLS) revealed that the Job Openings and Labor Turnover Survey (JOLTS) slowed for June as most companies hired less workers amid tariff uncertainty.
However, trade sentiment is starting to ease as China and the US will resume talks on a tariff truce in two weeks.
In addition, the Conference Board (CB) reported that Consumer Confidence improved in July despite several surveys showing Americans struggling to find work.
Ahead of the FOMC meeting on Fed monetary policy, the market expects the central bank to keep interest rates on hold despite some divergence from Fed Governors Christopher Waller and Michelle Bowman.
Meanwhile, the market will also be assessing several important US economic data such as Gross Domestic Product (GDP), employment data, ISM Manufacturing PMI and Personal Consumer Expenditures (PCE) Price Index.
