Gold sees a modest increase, as investors watch this week's central bank meetings. Focus remains on the Federal Reserve, where a hawkish stance could potentially impact Gold prices while bolstering the US Dollar. Recent US inflation data and Treasury yield resurgence, weighed on Gold prices. Even though the Bank of Japan , the Bank of England , and the Federal Reserve would announce their decisions, the spotlight is on the latter.
Technical analysis: Gold buyers take a breather below $2,170 Gold’s uptrend remains in place, though the non-yielding metal remains glued to the $2,160-$2,180 area. Market participants keep the XAU/USD spot price near the bottom of the previously mentioned range, which could suggest that buyers are in charge and could drive prices toward the year-to-date high of $2,195.15, ahead of the $2,200.00 mark.