Gold moved difficult due to geopolitical concerns that have been easing for several days and is now trying to recover its position at the opening of this week.
The release of important US economic data could change the Federal Reserve's policy stance at the December meeting and trigger a significant direction in early 2025.
At 9.30 am, the price of gold was at $2,648.96, up 0.61% since it opened in early trading on Monday in the Asian session.
The precious yellow metal started the week under high downward pressure as risk flows dominated financial market sentiment following news of Donald Trump's election to nominate fund manager Scott Bessent as US Treasury Secretary.
The market sees Scott Bessent as a suitable candidate to have a positive impact on the US Treasury after expectations of high tariffs on the global market.
In addition, the release of November Non-Farm Payroll (NFP) data on Friday caused gold to fall as the labor report showed the number of new jobs added was higher than expected.
Broad-based growth in the labor market has raised expectations for the US Fed to cut interest rates again in December.
For now, CPI data on Wednesday and the Fed meeting next week will likely determine the market's next direction for the rest of the year.
