"Gold prices reversed losses"
According to Odaily, gold prices reversed previous losses on Monday, rising nearly 1% to $3,349 per ounce during the U.S. trading session.
This increase followed a prior decline of 1.8%, driven by bargain hunting as the market focused on trade developments and various economic data.
Daniel Ghali, a commodities strategist at TD Securities, noted early signs of exhaustion in the selling momentum, suggesting that the downside risk for gold is extremely limited.
Ghali highlighted that Western investors, particularly independent traders or macro funds, were significantly under-invested during the previous gold rally, resulting in limited selling activity and contributing to the price increase.