The price of gold has fallen due to profit-taking, and the focus has shifted to the upcoming release of US data.

The price of gold slipped in early trading as investors took profits after Wednesday's rally and awaited more clues about the Federal Reserve's policy path. New York gold futures fell 0.3% to $4,220.90 per ounce; spot gold prices dropped 0.1% to $4,203.12 per ounce. Brian Martin and Tom Kenny of ANZ Bank said, "We expect Chairman Powell to hint at a cautious approach to future rate cuts, balancing concerns about weak hiring with high inflation and inflation uncertainty." The current focus is on U.S. weekly unemployment data and the Personal Consumption Expenditures Price Index to be released later this week.