Gold stays defensive above $4,500 in the Asian session on Monday, holding Friday’s late pullback from the vicinity of $4,600 or a two-week high. Any meaningful upside seems elusive as geopolitical risks underpin the US Dollar’s reserve currency status, which tends to weigh on the commodity. Furthermore, bets for a Fed rate hike in 2026 support the USD and should cap gains for the non-yielding yellow metal.
Source: https://www.fxstreet.com/news/south-korea-sp-global-manufacturing-pmi-climbed-from-previous-536-to-548-in-may-202606010030
