Core Viewpoint - Gold prices are under pressure due to strong US economic data and expectations that the Federal Reserve will maintain interest rates unchanged for several months, leading to reduced demand for the precious metal [1] Economic Indicators - The US unemployment rate decreased to 4.4% in December, indicating a strong labor market [2] - Producer prices in the US rose slightly in November, and retail sales increased more than expected, suggesting a resilient economy that diminishes the need for immediate rate cuts by the Federal Reserve [2] Jobless Claims and Market Sentiment - Traders are cautious ahead of the weekly US Initial Jobless Claims report, which is expected to show an increase to 215K from the previous 208K, indicating a slight rise in jobless filings [3] - Rising jobless claims typically signal a weaker labor market, which may lead to a slight weakening of the dollar [3] Geopolitical Tensions - Geopolitical tensions, particularly between the US and Iran, are limiting deeper losses in gold prices, as the situation has escalated with military actions and warnings from both sides [4] Market Uncertainty - Ongoing concerns regarding the Federal Reserve's independence are contributing to market uncertainty, keeping interest in gold steady despite short-term price pressures [5]