"Gold prices stabilised after a recent 3% drop, with investors considering future interest rates due to a slowdown in the US job market. Concerns about inflation and the possibility of excessive rate cuts initially drove gold to a record high on Monday, but it quickly retreated. The market now suggests a 60% chance of the Fed lowering rates in March," Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said.