Gold price holds modest intraday gains, edging toward the $3,350 level as traders await key U.S. economic data. Gold price (XAU/USD) extended its rebound for a second consecutive session on Thursday, maintaining a positive tone during early European trade. The U.S. Dollar remains under pressure amid reports that President Donald Trump may replace Federal Reserve Chair Jerome Powell—raising concerns over the Fed’s independence. Speculation about rate cuts beginning as early as July has also pushed the Dollar to a three-year low, supporting demand for non-yielding assets like gold. However, optimism surrounding the Israel-Iran ceasefire continues to bolster risk sentiment, limiting gold’s upside potential. As a result, traders may remain cautious until there’s stronger confirmation of sustained buying momentum above the recent sub-$3,300 lows. Market participants now turn to upcoming U.S. economic data and comments from key FOMC officials for fresh direction.