Gold

The gold price started the new week with notable losses as investors reduced expectations of Fed rate cuts following the robust US employment data. The recent diplomatic tensions and negotiations between the United States and Iran are also having an impact on market mood.

Key Indicators

• The metal continues the consolidation after breaking below the 20 SMA, showing a market that is losing short-term momentum.

• RSI is dropping below the 50 region, reflecting weak bullish momentum.

Fundamental Context

The US inflation data will set the tone for the gold price this week, as it will offer fresh cues on the Fed’s next policy move, and any speakers from the Fed will also be closely watched.