Institutions: Non-Farm Payrolls Suppress Rate Cut Expectations, Gold Prices Under Pressure and Retreat

Odaily News Gold prices edged lower in early trading, with New York futures holding steady below the $5,100 mark. Stronger-than-expected US non-farm payrolls data and a decline in the unemployment rate have dampened market expectations for a near-term Federal Reserve rate cut. "The renewed focus on the latest economic data suggests the market is gradually normalizing after recent heightened volatility. Meanwhile, the upcoming Chinese Lunar New Year holiday may further suppress risk appetite and liquidity," said an analyst from Saxo Bank. (Jin10)