Gold Prices Retreat: XAU/USD Pulls Back from One-Month Peak
Gold prices (XAU/USD) are experiencing a pullback during the Asian session on Monday. This change in momentum suggests that the recent four-day winning streak to nearly $2,700 may have come to an end. The market’s reaction follows the positive US Nonfarm Payrolls report, which reinforced expectations that the Federal Reserve will pause its rate cutting soon. Traders engaged in gold need to be aware of these shifts in market sentiment. Adjust your strategies as needed to manage trades effectively in a changing competitive environment. Awareness will be crucial for crafting successful approaches to this dynamic asset.