The yellow metal rose modestly in early trading on Monday after Donald Trump was sworn in as the 47th President of the United States and the US dollar weakened during his speech that dismissed aggressive tariff policies.
At 9.10 am, gold prices were at $2,709.38, up 0.09% since it opened early Tuesday in Asian trading.
Recently, President Donald Trump declared an aggressive national fixation on the energy sector with the southern border overhauling policies and immigration.
In his speech, he also toned down the rhetoric on trade and The Wall Street reported that he would issue a broad memorandum for federal agencies to review trade policy and further assess US relations with China, Canada and Mexico.
Meanwhile, the US dollar weakened to a one-week low during the inauguration speech with the US Dollar Index (DXY) falling to 107.95 and recovering above the 108 level.
This week, US economic data will feature Initial Jobless Claims data, S&P Global Flash PMI and housing data.
