Gold prices are currently experiencing a decline of nearly 1% as traders prepare for the Nonfarm Payrolls report. Currently priced near $3,082, gold has been unable to maintain the previous day’s momentum, where it dipped below $3,100.

Despite substantial losses earlier, gold was able to recover somewhat, closing with a loss of only -0.65% the day before. Market participants remain cautious as they anticipate Federal Reserve announcements and their potential impact on gold prices.