"Gold Slips as USD Rallies, Investors Eye Fed's Next Move"

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Key Points:

USD and Bond Yields Impact: Gold prices edged lower at the start of the week, influenced by a strengthening USD and rising bond yields.

Awaiting Economic Data: Investors are keenly awaiting economic data and commentary from Federal Reserve officials for clearer guidance on interest rate cuts.

Price Range Forecast: In this environment, gold is expected to trade sideways between $2,300 and $2,335.

Upcoming U.S. Economic Reports: Key U.S. data this week, including retail sales figures, weekly jobless claims, and PMI indices, are anticipated to shed light on the Fed's rate direction.

Support from Fed Policy Expectations: Despite the lack of major movements, gold remains supported by expectations that the Fed will eventually pivot its policy stance.

Global Political Uncertainty: Additionally, political unrest in France is heightening global risk aversion, boosting the demand for gold as a safe haven.
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