In the early trading session, the price of gold in the Asian market slightly rose, supported by anticipation of a rate cut by the Federal Reserve.

In early Asian trading, gold rose slightly, supported by expectations of a rate cut by the Federal Reserve, which would increase the attractiveness of non-interest bearing precious metals. Spot gold rose 0.1% to $3,382.62 per ounce. US data released overnight showed that the Institute for Supply Management's services index fell to 50.1 in July, below economists' expectations of 51.2. Van Ha Trinh of Exness said that the increasingly dovish monetary policy expectations could continue to support gold. The financial market strategist added that investors are likely to continue to focus on US economic data to look for clues about the country's economic direction.