Gold traded steady to open the week maintaining current levels after losing two days in a row at the end of last week from a high of $2,790.
The price sentiment of the traditional metal was affected by the uncertainty surrounding the US presidential election and Middle East tensions.
At 9.25 am, the price of gold was at $2,738.15 which is unchanged since it opened despite moving significantly at the beginning of Monday's trade opening in the Asian session.
Investors' attention is now fully focused on the US presidential election on Tuesday.
Meanwhile, weaker US October Non-Farm Payrolls (NFP) data boosted hopes of a rate cut as the market now expects a 25 basis point rate cut from the US Fed at next Thursday's meeting.
It rose by 12,000 in October with the smallest gain since December 2020 on the US Bureau of Labor Statistics (BLS).
Additionally, recent USD demand and high yields may influence gold prices to lower as higher yields make the precious asset unprofitable.
