Before the Nonfarm report, gold is stuck; with a 64% probability of a rate hike hanging overhead, both bulls and bears are waiting for that one decisive punch.

Coin World News: Gold hit a fresh intraday high during the European session on Thursday and extended its steady rebound against the backdrop of a slightly weaker U.S. dollar. However, elevated expectations of a Federal Reserve rate hike and geopolitical risks provided support for the dollar, keeping gold prices confined within the previous trading day's range. Traders also stayed on the sidelines ahead of the closely watched U.S. monthly employment data, avoiding aggressive directional bets. According to the CME FedWatch Tool, traders still price in about a 64% probability of a rate hike in September and nearly 85% by the end of the year. Federal Reserve Chairman Walsh's speech on Wednesday reinforced these expectations, as he reiterated the commitment to the 2% inflation target. Attention now shifts to the upcoming U.S. nonfarm payrolls report. From a technical perspective, gold remains below the 100-period moving average, reinforcing a near-term bearish bias.