Gold regained a high position above the $2,500 price during the opening of the Asian trading session on Monday amid a weaker US dollar and 'dovish' comments from the Federal Reserve (Fed).
The significant increase in gold at the end of last week was influenced by Fed Chairman Jerome Powell's speech regarding interest rate cuts starting this September that will become a reality.
At exactly 9.20 am, the price of gold was at $2,514.55 which is up by 0.09% since it opened in the trading session earlier in the week.
Recently, Jerome Powell delivered a Fed message at the annual Jackson Hole economic symposium in Kansas City that was able to broadly weigh on the USD currency position.
He emphasized that the Fed's immediate action to implement policy easing should be set to allow the central bank to begin lowering interest rates while reassuring market participants that labor numbers will remain in a healthy position.
Markets pegged expectations for a 25 basis point cut with confidence at 36.5%, up from 24% last week.
Expectations continue to rise in the implementation of policy easing and it is an attraction for gold.
In addition, Hezbollah's actions to launch hundreds of rockets and drones on Israel on Sunday were successfully foiled and the sentiment continues to increase geopolitical tensions in the Middle East.
