Asian market morning gold rose, boosted by the prospect of a rate cut by the Federal Reserve.

Asian gold rose in early trading, boosted by the prospect of a rate cut by the Federal Reserve, which could increase the attractiveness of this interest-free precious metal. Spot gold rose by 0.4% to $5,042.82 per ounce. Data released overnight showed that US retail sales in December unexpectedly remained flat. Christopher Tahir of Exness stated in an email that market focus is also on this week's nonfarm payroll report and inflation data, both of which could reshape expectations for Fed policy. The senior market strategist added that current market pricing still reflects expectations that the Fed will cut rates at least twice this year, by 25 basis points each time, with the first cut likely in June.