Gold (XAU/USD) opens early Monday in Asia bouncing off Friday's low of $1948, despite the slight rebound in US Dollar Index (DXY).
Dollar May Be Back Rising
The easing of US Dollar Index from the downward pressure may be linked to the market's passivity following the US bank holiday today as well as the anticipation for faster rate hikes considering the latest inflation data.
This week's soft calendar and bank holiday in the US may restrict gold's price actions. However, headlines from Russia and China will be tracked closely for any impulsive catalyst, aside from the US Nonfarm Payroll report this Friday.