Gold prices are in a tug-of-war as investors await US employment data due later in the day to bet on the policy direction of the US Federal Reserve (FED).
Spot gold remained steady at $3,357.9/ounce at 6:01 a.m. GMT, while US gold futures edged up slightly by 0.2% to $3,369.1/ounce.
Kelvin Wong - senior market analyst at OANDA - said: "Currently, gold prices seem to be consolidating in the range of 3,320 to 3,360 USD/ounce, with the market sentiment tending to wait instead of opening up large positions ahead of US non-farm payrolls and ISM service PMI data".
Data just released by ADP shows that US private employment decreased by 33,000 in June, marking the first decline in more than two years, as economic uncertainty hampered recruitment, but the low number of layoffs still contributed to maintaining the stability of the labor market.
The non-farm payrolls report due out on Thursday is expected to show the US economy added 110,000 jobs in June, down from 139,000 in May.
Wong commented: I think the main concern right now is the progress of US tax agreements with major economies that are still unfinished.
US and Indian negotiators are working to complete a tax cut before Trump's deadline of July 9.
Mr. Trump said there were no signs of extending the negotiation deadline despite the stagnation of negotiations with Japan - another important trading partner - but he was optimistic about the possibility of reaching a deal with India.
Gold - an un interest-bearing asset - often has positive developments in the context of economic instability and a low interest rate environment.
Spot silver prices increased slightly by 0.2% to 36.66 USD/ounce, platinum decreased by 1.1% to 1,402.66 USD and palladium lost 1.3% to 1,140 USD.
