Credit: Reuters

Spot gold edged up 0.2% at $2,644.05 per ounce, as of 01:42 p.m. ET (1842 GMT). Prices were up as much as 0.7% before the U.S. job openings data. U.S. gold futures settled 0.4% higher at $2,667.90.

Bullion trimmed earlier gains as "the JOLTS data confirms our expectations of a rebound in the job market, which eases fears of a significant slowdown in labor markets ahead of Friday's non-farm payrolls report," said Daniel Ghali, commodity strategist at TD Securities.

A strong jobs report could lead the Fed to take a cautious stance on cutting interest rates. Investors' focus turns to the ADP employment report and Fed Chair Jerome Powell's speech on Wednesday, ahead of Friday's payrolls report.

Traders are currently pricing in a 74% chance of a 25-basis-point December rate cut.

The 10-year Treasury yield dropped to more than a month's low, and the dollar was also down 0.3%, limiting losses in bullion.

Analysts at JPMorgan and HSBC highlighted gold's role as a hedge against geopolitical uncertainty, noting that elevated global tensions and conflicts have boosted its appeal.

They emphasized that President-elect Trump's policies could further heighten geopolitical risks, potentially benefiting gold as a safe-haven asset heading into 2025.

"We believe gold's post-election sell-off was a positioning-driven stumble, not a sea change," JP Morgan noted, forecasting prices could climb toward $3,000/oz in 2025 as physical demand and less frothy futures positioning will set the stage for further price gains in 2025.

Gold, which does not pay any interest, historically performs well in low-interest rate environments and during periods of geopolitical uncertainty. Spot silver added 1.7% to $31.01 per ounce.

At Mercury Gold, we offer a wide range of gold bars and coins for sale in Malaysia to suit your investment needs. As a trusted source for physical gold bullion in Malaysia, we also provide secure and convenient options, including gold savings accounts (Mercury Bullion Savings (MBS) program) which starts at just RM50. Discover the best place to buy gold in Malaysia with Mercury Gold, offering competitive prices and expert guidance on where and when is the best time to buy gold in Malaysia. Explore our platform to buy gold Malaysia online, to enjoy an easy and reliable experience. Invest with confidence and let Mercury Gold be your partner in building your investment goal.

Click here to view more.