Gold futures hold above 4,000 as markets eye payroll data.

Bob Iaccino from Path Trading Partners examines the recent price action in Gold futures, noting a mild recovery after an early drop to 3,955.40, the lowest level since September of last year. Market attention is now shifting toward Thursday's nonfarm payrolls report, as investors look for clues regarding the Federal Reserve's next policy move. A strong employment reading could reinforce expectations for restrictive rate policy, keeping pressure on the non-yielding metal. Additionally, the World Gold Council highlighted a recent uptick in global inflation surprises, which has pushed rate hike probabilities slightly higher for September. This shift has also driven renewed strength in the U.S. dollar, particularly against the yen, potentially weighing on foreign demand for precious metals.