Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.

Gold prices steady as investors await key U.S. economic data, with eyes on labor reports and Fed's moves. Geopolitical tensions and strong demand continue to support the metal’s long-term outlook.

Gold eased on Wednesday, taking a breather after rallying in the last session on an escalation in the Middle East conflict, while traders waited for more clues on U.S. interest rates. Spot gold was down 0.

Gold extended declines on Thursday, pressured by a stronger dollar, while investors were cautious ahead of key U.S. economic data that might provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.