Spot Gold trades with a soft tone on Monday, with XAU/USD hovering around $2,330.00.
XAU/USD Current price: $2,329.11 United States inflation and FOMC meeting Minutes stand out this week. Upcoming elections in Europe keep investors in cautious mode. XAU/USD trades with a soft tone around $2,330, bearish scope well-limited. A certain caution prevails across financial markets as investors await fresh news from the macroeconomic and political sides.
Little variation around government bond yields and a scarce macroeconomic calendar help to keep XAU/USD within familiar levels. XAU/USD short-term technical outlook XAU/USD is technically neutral, according to the daily chart, although the bearish potential seems well-limited. The pair is currently battling a directionless 20 Simple Moving Average , while the longer moving averages maintain their upward slopes below the current level.
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