Gold prices were relatively stable after a period of correction as traders could remain cautious ahead of US economic data releases. US GDP data is scheduled today and the Personal Consumption Expenditures (PCE) Price Index is set for release on Friday and could affect the market. Gold could remain exposed to some risks as US interest rate expectations continue to change. 

Federal Reserve officials have recently indicated a lack of urgency to reduce interest rates, with market expectations now pointing towards a possible initial rate cut in September. While geopolitical concerns have temporarily receded in importance, any signs of weaker-than-expected inflation, particularly in the core PCE figures, could lead to further weakening of the dollar and a corresponding increase in gold prices. Conversely, higher-than-expected inflation rates may place additional pressure on gold.

At the same time, demand from Asian markets, particularly from Chinese retail investors, could continue to support gold prices to a certain extent. Central banks' demand also remains a strong support for the market and could help alleviate downside risks.