Gold (XAU/USD) prices attracted some follow-through sellers at the start of a new week and retreated further from near three-week highs, around the $2,665 region touched on Friday.
Prospects for a slower pace of interest rate cuts by the Federal Reserve (Fed) in 2025 remained supportive of the uptick in the US Treasury bond yields and turned out to be a key factor undermining the non-yielding yellow metal.
Additionally, a positive risk tone exerted additional pressure on the safe-haven commodity and contributed to its offered tone for the second consecutive day.
Meanwhile, the US Dollar (USD) bulls remained subdued below two-year tops touched last Thursday.
Further, persistent geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with concerns about Trump's tariff plans, should limit losses for the safe-haven Gold prices.
This, in turn, warrants some caution before positioning for any further depreciating move ahead of this week's key US macro data releases, including the closely watched Nonfarm Payrolls (NFP) report on Friday.
Source: FXStreet
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