August Gold futures saw a positive reversal during Thursday's session, rebounding from morning lows to secure a second consecutive day of gains. The early sell-off reversed sharply following the release of June's nonfarm payrolls report, which missed expectations by adding just 57,000 jobs. Additionally, downward revisions to previous months and a lower participation rate painted a softer picture of the broader labor market. This weaker data shifted market sentiment regarding future monetary policy, reducing pressure on the Federal Reserve to tighten aggressively. As a result, futures markets quickly repriced rate hike probabilities, pushing highest-probability expectations from September out to December. This repricing resulted in lower real rates, providing a tailwind for non-yielding assets like Gold futures heading into next week's FOMC meeting.