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US spot gold regains positive traction

Gold price regains positive traction amid expectations that US interest rates have peaked.

The recent decline in the US bond yields undermines the US Dollar and remains supportive.Looming recession risks and geopolitical tensions further benefit the safe-haven XAU/USD.

Gold price (XAU/USD) attracts some dip-buying near the $1,973 area on the first day of a new week and stalls Friday's modest pullback from a two-week high. The precious metal currently trades just below the $1,985 level, up nearly 0.20% for the day. It seems poised to build on its recent goodish rebound from the monthly low touched last Monday in the wake of dovish Federal Reserve (Fed) expectations.

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