Gold prices stable as expectations for Fed rate cut ease

Gold prices remained stable on Thursday morning as expectations for a Federal Reserve rate cut eased following the release of unemployment data, Report informs referring to trading data.

The price of April gold futures on the New York Comex exchange fell slightly, down $3.55 from the previous close, or 0.07%, to $5,094.95 per troy ounce.

March silver futures fell 0.25% to $83.71 per ounce.

According to CME Group, a majority of analysts (94.6%) expect the US Federal Reserve to keep rates at the current level of 3.5-3.75%, while the remainder expect a rate cut to 3.25-3.5%.