Gold prices have experienced significant fluctuations recently. After reaching a peak in May, gold has struggled to maintain its bullish momentum above $2388. The recent rally, fueled by US jobs data, led to profit-taking, causing spot gold to fall by 1.6%. Gold futures also posted their largest daily decline in over two weeks. Despite the recent drop, strong global cues and softening US labor data have kept prices relatively elevated. The potential for a Federal Reserve rate cut is also influencing the market, with gold up by ₹100 and silver spiking by ₹870. However, the precious metal remains within a trading range, with traders awaiting a clear signal from price movements. Gold dropped more than 1% as risk appetite grows.