Gold moved steadily at the opening of the week despite the US dollar experiencing a decline. Higher US Treasury bond yields caused gold to not produce pressure.
Donald Trump's administration will be the main focus in the coming days amid confusion over his tariff plans.
At 9.30 am, gold prices were at $2,637.66, up 0.04% since it opened in early trading on Tuesday in the Asian session.
However, the yellow metal failed to capitalize on the significant weakness in the USD ahead of speculation that Donald Trump's upcoming administration agenda will trigger inflation and a surge in US Treasury yields.
As for central bank sentiment, Fed Governor Lisa Cook said in her statement that they are taking a gradual approach in reducing interest rates.
She explained that the resilience of the labor market and continued inflation and policymakers can be more cautious.
This week, the US economic docket will feature the ISM services PMI survey, Federal Open Market Committee (FOMC) meeting minutes, Initial Jobless Claims and the December US Non-Farm Payroll report.
