Despite fluctuations in global markets, gold prices remained steady on Monday as investors anticipate a potential Federal Reserve rate cut next month. This anticipation is primarily fueled by speculation surrounding the possibility of another rate reduction, spurred by comments from New York Fed President John Williams who suggested that rate cuts might be appropriate if the labor market weakens. However, not all officials are in favor of this course of action. On Friday, Williams highlighted the potential benefits of reducing interest rates without jeopardizing inflation targets while also aiming to prevent a recession in the labor market. Following these remarks, the odds of a rate cut next month have increased significantly, rising from 40% to 72%, according to CME FedWatch data.