Gold steadies as investors eye US payroll data, assess Fed signals
Spot gold was stable at US$3,338.22 per ounce, as of 0036 GMT, while US gold futures were unchanged at US$3,347.80.
The US dollar index weakened to its lowest point in more than three years, making greenback-priced bullion more affordable for holders of other currencies.
US Senate Republicans narrowly passed US President Donald Trump's tax-and-spending bill on Tuesday, a package cutting taxes, reducing social safety net programmes, and boosting military spending, while adding US$3.3 trillion to the national debt.
Meanwhile, the US could reach a trade deal with India that would help American companies compete in the South Asian country and leave it facing far lower tariffs, Trump said, while casting doubts on a possible deal with Japan.
Trump added he was not considering an extension of the July 9 deadline for countries to negotiate trade deals.
Powell reiterated that the US central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates, again setting aside Trump's demands for immediate and deep rate cuts.
Trump emphasised he has two or three top choices to replace Powell as Fed Chair.
US job openings unexpectedly increased in May, but a decline in hiring added to signs that the labour market had shifted into lower gear amid uncertainty over the Trump administration's tariffs on imports, with a 90-day pause on higher reciprocal duties drawing to an end.
Investors are now awaiting US ADP employment data on Wednesday and Thursday's payroll figures for further insights into labour market conditions.
Spot silver held steady at US$36.07 per ounce, platinum rose 0.7 per cent to US$1,359.78, while palladium gained nearly 1 per cent to US$1,108.
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