09:42 AM EDT, 07/02/2025 (MT Newswires) -- Gold traded higher for a third-straight session early on Wednesday, even as the dollar edged up from the lowest in more than three years despite worries over rising U.S. fiscal deficits after the Senate passed a controversial budget bill and a report showed an unexpected drop in U.S. private-sector hiring last month.

Gold for August delivery was last seen up US$9.20 to US$3.359.00 per ounce.

The U.S. Senate on Tuesday passed the "Big Beautiful Bill" in a 51 to 50 vote, with the House now considering whether it will pass the Act, which offers tax breaks to high income earners while cutting support for social programs and adding an estimated US$3 trillion of government debt.

The ADP Employment report showed U.S. private-sector employment fell by 33,000 jobs in June, down from a rise of 29,000 positions in May and well below the consensus analyst estimate for a rise of 100,000 jobs, according to Marketwatch.

The report will focus attention on Thursday's non-farms payroll report, which is expected to show a rise of 110,000 jobs in June, down from 139,000 in May.

Gold is "supported by US fiscal debt concerns after the Senate passed President Trump's 'Big Beautiful Bill', which is now headed to the House for final approval. The focus now turns to the US jobs situation, with ADP today and June's employment report due Thursday", Saxo Bank noted.

The dollar moved higher early after touching the lowest since early 2022 on Tuesday. The ICE dollar index was last seen up 0.27 points to 97.09. Treasury yields were mixed, with the U.S. two-year note last seen paying 3.772%, down 1.3 basis points, while the yield on the 10-year note up 4.4 points to 4.289%