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Traders are on the lookout for the ADP employment report and jobless claims data due later in the day
So far this year, gold prices have gained over 29 percent, rising to a record high of $2,531.60 on August 20
Growth is stabilizing, the current account deficit is narrowing, risk premiums are down, says minister
Gold prices may rally if reports signal a weaker economy and the Fed considers a larger rate cut
The U.S. personal consumption expenditures (PCE) price index rose 0.2 percent in July, in line with expectations
Gold prices gained almost 3 percent in the last 30 days, marking their second consecutive monthly gain
Brent oil futures for October rose 0.2 percent to $80.08 a barrel
Traders priced in a 65.5 percent chance of a 25-basis-point cut and a 34.5 percent chance of a bigger 50-basis-point reduction
Brent oil futures for October delivery dipped slightly to $78.62 a barrel
Markets now await the release of the U.S. PCE data, the Federal Reserve's preferred measure of inflation, on Friday
Traders now see a 70 percent chance of a 25-basis-point rate cut and about a 30 percent chance of a bigger 50-basis-point reduction
The dollar hovered near its lowest level in 13 months, making gold cheaper for other currency holders
