The rise in gold levels is becoming clearer as speculation about a potential interest rate cut and investors await the appointment of a new Fed Governor appointed by President Donald Trump.
At 9.20 am, gold prices were at $3,377.61, unchanged since they opened in early trading on Wednesday in the Asian session.
Since last Friday, gold has recovered after the July Non-Farm Payrolls (NFP) report revealed a significant downward revision and strengthened expectations of the first 25 basis point rate cut of 2025 at the September meeting.
The Institute for Supply Management (ISM) released the Services Purchasing Managers' Index (PMI), which showed a decline in business activity, contrary to economists' expectations.
Other data from the Commerce Department showed that the trade deficit narrowed in June.
Meanwhile, the resignation of Fed Governor Adriana Kugler paves the way for Donald Trump to nominate his next successor.
However, a recovery in US Treasury yields and the US dollar could limit Bullion's advance after hitting an eight-day high of $3,390.
Towards the end of the week, US economic data will feature Jobless Claims , Consumer Sentiment data and Fed officials' speeches.
