Gold prices (XAU/USD) halted a two-day decline during the European trading session on Monday. Weaker-than-expected US employment reports have raised the likelihood of the Federal Reserve cutting interest rates in September, which weakened the US dollar and boosted the price of gold priced in USD.
However, there's concern that easing tensions in the Middle East, particularly the Iran-Israel conflict, and a risk-friendly environment could dampen demand for safe-haven assets and limit the upside for the yellow metal. Gold traders will be watching Fed speak this week. Remarks from Fed officials Thomas Barkin and John Williams on Monday could further drive XAU/USD."
However, there's concern that easing tensions in the Middle East, particularly the Iran-Israel conflict, and a risk-friendly environment could dampen demand for safe-haven assets and limit the upside for the yellow metal. Gold traders will be watching Fed speak this week. Remarks from Fed officials Thomas Barkin and John Williams on Monday could further drive XAU/USD."
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