Gold prices slipped in the morning but It steadied at a 10-day high after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields. But gold\u2019s advance was stalled by hawkish signals from the minutes of the Fed\u2019s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious. Gold marked strong gains on Wednesday, tracking a sharp fall in the dollar as traders upped their bets for a rate cut in September.\u00a0The trend came following weaker-than-expected ADP employment data and a soft reading on non-manufacturing activity, which pushed up bets that the U.S. economy was cooling. The CME Fedwatch tool showed traders pricing in an over 68% chance for a 25 basis point cut in September, up from a 59% chance seen a day ago. Lower rates bode well for non-yielding assets such as gold, given that they diminish the appeal of Treasuries and the dollar.<\/p>\n\n\n\n
Spot gold rose 0.1% to $2,359.56 an ounce, while gold futures expiring in August fell 0.1% to $2,367.15 an ounce\u00a0<\/p>\n\n\n\n