Gold Slips Below $4,050 as Traders Eye Key U.S. Economic Reports
​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
