Gold steadied around $3,360 an ounce on Monday after investors locked in profits from a 2.2% rally at the end of last week, the metal’s sharpest one-day gain in two months. Rising U.S. Treasury yields briefly pushed prices lower during the session, but demand for the traditional haven remained supported by worsening economic data and lingering trade tensions. Friday’s move was triggered by a markedly weaker U.S. labor-market report that showed payrolls expanding by only 73,000 in July and large downward revisions for the prior two months. The soft print, coupled with President Donald Trump’s latest package of tariffs—among the most sweeping since the 1930s—has reinforced expectations that the Federal Reserve will begin easing policy as soon as its September meeting. Futures pricing reflects a 94% probability of a rate cut next month, according to CME Group’s FedWatch tool, and some banks now anticipate several consecutive reductions. Those expectations weighed on the U.S. currency: the dollar index slipped to about 98.7 while the euro rose to $1.1579, underscoring a broader shift into bullion and other non-dollar assets as investors brace for slower growth and policy uncertainty.