Gold prices increased on Wednesday following weak US data, which strengthened the likelihood of multiple Federal Reserve rate cuts this year.
Recent data revealed that the US private sector added 152,000 new jobs in May, down from 188,000 in April. This slowdown in the labor sector has heightened expectations for Fed rate cuts.
The comprehensive US payrolls report, set for release on Friday, will further influence the outlook for future Fed rate cuts.
Meanwhile, the US services PMI rose to 53.8 in May from 49.4.
Additionally, the dollar index increased by 0.2% to 104.2 as of 20:05 GMT, with a session high of 104.4 and a low of 104.1.
On trading, gold spot prices rose 1.2% to $2375 an ounce as of 20:05 GMT, the highest since May 28.
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