Spot Gold turned positive at the beginning of the week, with XAU/USD reaching an intraday high of $2,331.88.
XAU/USD Current price: $2,322.62 Mixed comments from Fed eral Reserve speakers keep investors hesitating. The United States macroeconomic calendar has nothing relevant to offer this week. XAU/USD advanced on Monday, although further gains are still unclear. The US Dollar weakened throughout the first half of the day, although trading conditions were thin amid holidays in Japan and the United Kingdom. The market mood remained upbeat in Asia and Europe, undermining demand for the American currency.
The macroeconomic calendar will remain scarce in the United States this week, although multiple Fed speakers could set the tone after last week's moderately hawkish monetary policy announcement. XAU/USD short-term technical outlook From a technical point of view, XAU/USD has made little progress, although the odds for a downward acceleration diluted. The daily chart shows the pair trades around a critical Fibonacci level, the 23.6% retracement of the April/May rally at $2,326.50.
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