Gold prices are holding above $2,350 in early Asian trading despite a recent dip to two-week lows. This stability follows stronger-than-expected Q2 2024 US GDP, which raised doubts about the Federal Reserve's rate cut plans. Core PCE inflation moderated to 2.9%, and jobless claims declined. Markets still anticipate a Fed rate cut in September due to ongoing disinflation. Gold initially fell on the GDP data but recovered with the softer core PCE reading.