Gold prices edged lower on Monday as the US Dollar strengthened and investors took mild profits following last week’s rebound from a seven-month low. According to FX Street, gold (XAU/USD) retreated by 0.8% to hover near $4,140 during the European trading session.
The precious metal faced selling pressure after its recent three-day rally stalled, unable to surpass the $4,202 resistance level. This pause comes after gold recovered from a low of $3,941 last week, marking a temporary halt in the upward momentum.
For Japanese investors, the movement in gold prices coincides with a cautious market environment where currency fluctuations, particularly the stronger US Dollar, continue to influence safe-haven assets like gold in the FX and equities space.