Gold continues to run slowly to wait for new breakthrough news

World gold prices inched up slightly as traders are waiting for important reports to know more signals about interest rates in the near future.

World gold prices increased slightly this morning with spot gold increasing by 4.7 USD to 2,062.7 USD/ounce. Gold futures last traded at 2,040.7 USD/ounce, up 5.5 USD compared to yesterday morning.

World gold fluctuated slightly in the first trading session of the week as investors waited for important US inflation data to be released at the end of the week to look for more signals about the Federal Reserve's interest rate direction. America after recent peaceful statements.

According to Jim Wyckoff, senior analyst at Kitco Metals, the market is in pause mode waiting for the next important fundamental economic news or data. He said that the buying activity of traders in the first trading session of the week was the psychology of buying when prices fall.

Wyckoff added that the fundamental factors keeping gold prices are a weakening dollar, looser monetary policy and some safe-haven demand from tensions in the Middle East.

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