Gold Prices Hold Steady as Markets Await Economic Updates and Political Developments

On Monday, Spot Gold exhibited a subdued trend, with XAU/USD hovering near $2,330.00. Financial markets showed caution as investors awaited updates on macroeconomic and political fronts. In the United States, attention was focused on the Federal Open Market Committee (FOMC) meeting minutes and the May US Personal Consumption Expenditures (PCE) Price Index, which is the Federal Reserve's preferred inflation measure.

Additionally, investors monitored upcoming elections in Europe, particularly in France and the United Kingdom. Speculative interest was also drawn to Russia after President Vladimir Putin hinted at potential changes in the country's nuclear policy, heightening tensions with Western nations.

The US Dollar initially gained slightly early in the day but reversed course upon Wall Street's opening, influenced by a rebound in US equities following a lackluster performance on Friday. With little movement in government bond yields and a sparse macroeconomic schedule, XAU/USD remained stable within familiar trading ranges.