Gold price (XAU/USD) kicks off the new week on a positive note and sticks to its modest gains through the early European session.
The US Treasury bond yields dropped to their lowest level since October amid bets that the Federal Reserve (Fed) will lower borrowing costs again in December. Apart from this, political disruption in South Korea, geopolitical tensions and trade war fears offer some support to the safe-haven XAU/USD.
Investors now seem convinced that the US central bank will adopt a less dovish stance amid expectations that US President-elect Donald Trump's expansionary policies will boost inflation.
This assists the US Dollar (USD) to capitalize on Friday's bounce from a nearly one-month low and keeps the non-yielding Gold price below the $2,650-2,655 supply zone. Traders also seem reluctant ahead of this week's US consumer inflation figures.
Source: FXStreet
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