• Gold price edges lower in Wednesday’s early Asian session. 
• The escalating Middle East geopolitical tensions and firmer Fed rate-cut expectations might cap the Gold’s downside. 
• JOLTS Job Openings and Fed Beige Book are due later on Wednesday. 

The Gold price (XAU/USD) bounces off the multi-day lows but remains below the $2,500 barrier amid the renewed bid bias in the US Dollar (USD) on Wednesday. However, the ongoing geopolitical risks and imminent Federal Reserve (Fed) rate cuts might underpin the yellow metal in the near term. 

Later on Wednesday, JOLTS Job Openings and Fed Beige Book will be released. Investors will closely monitor the highly-anticipated US August Nonfarm Payrolls (NFP) on Friday, which could determine the size and pace of the potential rate cut by the Federal Reserve's September policy meeting. If the report shows weaker than expected reading, this could fuel speculation about a US recession and faster Fed rate cuts. This, in turn, could further boost the precious metal as lower interest rates reduce the opportunity cost of holding non-yielding gold.