World gold prices traded in range at the beginning of the week as investors awaited upcoming important economic data reports.
Over the past week, gold has had strong fluctuations, rising to $2,034 and then falling to $2,012 following the PMI release on Thursday. After that, gold mainly traded within the $2,014 - $,2,024 price range from the weekend until now. Currently, gold is rising to $2,021.
This week, economic reports and interest rate decisions from the Fed will give gold the momentum it needs to break out. With the PCE index continuing to decline, the Fed may consider adjusting interest rates and supporting precious metals.