Gold price (XAU/USD) extends its sideways consolidative price move through the first half of the European session on Monday and remains below the all-time peak – levels beyond the $3,000 psychological mark touched on Friday.
Bulls now seem reluctant to place fresh bets and opt to move to the sidelines ahead of this week's key central bank event risks – the highly-anticipated Bank of Japan (BoJ) policy decision and the outcome of a two-day FOMC meeting on Wednesday.
In the meantime, worries about escalating trade tensions and their impact on the global economy, along with geopolitical risks, continue to act as a tailwind for the safe-haven Gold price.
Apart from this, bets that the Federal Reserve (Fed) will cut interest rates several times in 2025 and a bearish US Dollar (USD) underpin the non-yielding yellow metal.
However, a positive risk tone, bolstered by the optimism over China's stimulus measures announced over the weekend, caps the XAU/USD.
Source: FXStreet
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