Spot Gold ticked down 0.1% to $3,378.13 an ounce, while Gold Futures for December also lost 0.1% to $3,432.70 per ounce

Gold prices were little changed in Asian trade on Wednesday after four days of gains, as investors weighed weak U.S. economic data to gauge the Federal Reserve’s interest rate outlook.

Market participants also awaited President Donald Trump’s decision on appointments to the Fed for further clarity on the central bank’s policy outlook.

Spot Gold ticked down 0.1% to $3,378.13 an ounce, while Gold Futures for December also lost 0.1% to $3,432.70 per ounce by 06:32 GMT.

Bullion has risen in the last four consecutive sessions, with marginal gains this week after a 2% jump on Friday.

Data on Tuesday showed that the Institute for Supply Management’s purchasing managers’ index fell to 50.1 in July, below forecasts for 51.5, marking a near‑stall in services activity and exacerbating concerns about slowing U.S. economic growth.

This came on the heels of Friday’s weak U.S. payroll report, which saw fewer new jobs added and widespread revisions, pushing the unemployment rate to 4.2%.

Fed rate cut odds for September rose to 87% as of Wednesday, supporting gold prices as lower interest rates reduce the opportunity cost of non‑yielding bullion.

Meanwhile, markets weighed President Donald Trump’s decisions on Federal Reserve vacancies. Governor Adriana Kugler is set to resign on August 8, opening a board seat.

Separately, Trump said he had narrowed the list of potential candidates to replace Federal Reserve Chair Jerome Powell to four names.

He excluded Treasury Secretary Scott Bessent from the contenders, including Kevin Hassett and former Fed Governor Kevin Warsh.

Trade tensions further supported bullion. In a CNBC interview, Trump threatened new tariffs on pharmaceuticals and semiconductors and reiterated threats of possible tariff hikes on Indian imports over Russian oil purchases.