​Gold prices edged lower on Monday, giving back part of last week's gains as traders turned more cautious ahead of a busy week of U.S. economic reports that could influence expectations for the Federal Reserve's next policy decision.
Spot gold (XAU/USD) was trading at $4,043.88 per ounce, down $45.38, or 1.11%, from Friday's close of $4,089.26. The decline pushed prices back below the $4,050 mark after the metal briefly approached $4,100 in the previous session.
Gold Retreats After Strong Weekly Finish
The session opened at $4,089.26, but selling pressure gradually built throughout the day. Prices slipped to an intraday low of $4,026.19 and failed to recover above the opening level before trading settled.
Despite Monday's decline, gold remains well above the levels seen earlier this year, suggesting the broader upward trend remains intact for now.
Focus Shifts to U.S. Data
Investors are now turning their attention to a series of closely watched U.S. economic reports due later this week, including consumer confidence, JOLTS job openings, housing data and manufacturing surveys
Share this article
commodities and futures contracts latest news
Silver Prices Today Remain Stable as Industrial Demand Supports the Market
Donia Saad•1h
Gold Prices Today Hold Near Record Levels as Investors Await New Economic Signals
Donia Saad•2h
Oil Holds Near Multi-Week Highs as Middle East Risks Keep Supply Concerns Alive
Donia Saad•21h
Gold Faces Weekly Loss as Inflation Concerns Offset Safe-Haven Demand
Donia Saad•22h
Cooling U.S. Inflation Eases Pressure on Fed, but Rate Outlook Remains Uncertain
Donia Saad•19 July
