Gold prices continued to recover from a one-month low touched last Thursday and gained positive traction for the third straight day at the start of a new week. The commodity maintained its positive bias through the first half of the European session and was supported by some safe-haven inflows – supported by geopolitical risks and trade war fears. That said, the positive risk tone acted as a headwind for the precious metal.
Meanwhile, the Federal Reserve's (Fed) hawkish signals kept the US Treasury bond yields buoyant and helped the US Dollar (USD) in attracting some dip-buying on Monday. This further helped cap the non-yielding Gold prices, making it prudent to wait for a strong follow-through buying before positioning for additional gains. Traders now eye the Conference Board's Consumer Confidence Index for a fresh impetus.
Source: FXStreet
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