GOLD’s Fundamental Outlook

XAUUSD Gold starts the week under pressure as renewed demand for the US Dollar continues to cap upside momentum. Rising geopolitical tensions between the United States and Iran have pushed investors back into the Greenback DXY , keeping Gold on the defensive.

At the same time, last week’s weaker than expected US Nonfarm Payrolls report strengthened expectations for future Fed rate cuts. If upcoming US data continues to soften, the US Dollar could lose momentum, creating a more supportive environment for Gold XAUUSD .

For now, the market’s focus shifts to fresh headlines from the Middle East, upcoming US economic data, and the FOMC Minutes. As long as the US Dollar remains firm, Gold may struggle to extend its recovery. Any renewed Dollar weakness, however, could quickly shift momentum back in favor of Gold.