Gold (XAU/USD) prices maintained its bid tone through the first half of the European session on Monday (2/12) and is currently trading around the $2,630 region, or the lower end of its daily range. The US Dollar (USD) bounced back after its recent decline to a near three-week low amid a healthy uptick in the US Treasury bond yields and turned out to be a key factor weighing on the precious metal.
Furthermore, expectations that US President-elect Donald Trump's tariff plans and expansionary policies will boost inflation, setting the stage for the Federal Reserve (Fed) to halt interest rate cuts, further undermined the non-yielding Gold prices. That said, trade war concerns, geopolitical tensions, and a softer risk tone should help limit losses for the safe-haven XAU/USD ahead of this week's key US macro data releases.
Source: FXStreet
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