The price of gold eased after five days of gains, as investors awaited the release of a set of US data this week, which would provide clues about the Federal Reserve’s interest in cutting interest rates further. The precious metal was trading at about $4,280 an ounce, remaining about $100 below its record high in October. The Federal Reserve cut borrowing costs again last week, but since then policymakers have offered mixed views on the need for further rate cuts in 2026. Key data sets the Fed’s direction. US economic data this week is expected to help fill the information gap left by the six-week government shutdown. The delayed monthly employment data is expected to be released on Tuesday, with economists likely to add 50,000 jobs, with the unemployment rate recorded at 4.5%, consistent with a stagnant labor market but not witnessing rapid decline. Michael Wilson, a Morgan Stanley strategist, wrote in a note that even moderate weakness in US non-farm payrolls data would strengthen the case for an additional cut in interest rates. Low interest rates usually support gold, as it does not generate a yield. A number of Federal Reserve officials are expected to speak during the week, while inflation data is released on Thursday. Gold and silver to their best performance since 1979 Gold has jumped more than 60% this year, while silver prices have more than doubled, with the two metals on track for their best annual performance since 1979. These sharp gains were underpinned by strong purchases by central banks, and a decrease in investor appetite for sovereign bonds and currencies. According to the World Gold Council, holdings of gold-backed ETFs rose in every month this year except May. The price of gold fell 0.5% to $4,281.93 an ounce at 08:35 London time, after hitting a historic high of $4,381.52 in late October. Silver fell 1.7% after jumping 3.4% in the previous session. Platinum rose more than 0.5%, while palladium steadied, and the Bloomberg Dollar Bullion Index was little changed. (Prices have been updated to reflect market reality)