- Gold price ticks lower on Monday following the post-NFP price action whipsaw.
- Elevated US bond yields act as a tailwind for the USD and exert pressure on the XAU/USD.
- A softer risk tone should help limit deeper losses as the focus shifts to the US inflation data.
Gold price (XAU/USD) staged a goodish intraday recovery of around $40 from over a two-week low touched in the aftermath of the better-than-expected monthly employment details on Friday, albeit lacked any follow-through. The momentum ran out of steam near the $2,064 region amid the uncertainty about the Federal Reserve’s (Fed) rate-cut trajectory, which, in turn, held back traders from placing aggressive directional bets around the non-yielding yellow metal.
The incoming US economic data pointed to a still-resilient economy, which, along with…
