Gold is under the influence of mixed signals from the USA
Gold prices, which suffered consecutive weekly losses on Friday, regained their losses after falling to 2 thousand 291 thousand dollars on Monday.
Spot gold is trading at $2,313 per ounce, up 0.5 percent on the first trading day of the week.
Gold gained approximately 12 percent this year despite the high inflation environment and uncertainty about when the US Federal Reserve (Fed) will reduce interest rates. Gold has enjoyed a record-breaking rally, reaching consecutive all-time highs in April. These gains were linked to strong central bank buying, demand from Asian markets and safe-haven buying amid conflicts in Ukraine and the Middle East.
Chicago Fed President Austan Goolsbee said on Friday that additional reports in April reassured him that the economy was not overheating, which could increase the likelihood of monetary expansion this year.
Gold investors will follow the service sector and composite Purchasing Managers Index (PMI) data abroad in Europe today.