Gold prices remained stable after a slight increase as investors considered remarks made by Federal Reserve Chair Jerome Powell about a cautious approach to interest rate cuts.

The price of bullion was approximately $2,650 per ounce, reflecting investor sentiment ahead of important economic data.

Powell suggested that the Fed may proceed cautiously with rate reductions, which could impact future monetary policy.

The upcoming release of US nonfarm payroll figures on Friday is expected to be a significant factor influencing the central bank's decisions during its meeting on December 17-18 in Washington.

Market expectations, as indicated by swaps markets, are leaning towards a 25-basis point cut, highlighting the ongoing adjustments in monetary policy in response to changing economic conditions.