Gold prices maintained their positive momentum to settle at $2,650 troy ounces, through the first half of the European session on Monday. The US Nonfarm Payrolls (NFP) report released on Friday strengthened bets that the Federal Reserve (Fed) will lower borrowing costs in December. In another report, China's central bank added bullion to its reserves for the first time in seven months.
Moreover, political turmoil in South Korea, geopolitical tensions, and trade war fears provided some support to the safe-haven gold prices. However, a stronger US Dollar (USD) supported by bets that the Fed will take a less dovish stance on speculation that US President-elect Donald Trump's policies will boost inflation, capped gains for XAU/USD.
Source : newsmaker.id
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