XAUUSD : Gold will find its old peak within the week

World gold moved sideways around 2,427 USD/ounce in the early trading session this morning, a number of important economic reports will be announced by the US this week. However, experts predict that the gold market will not change much after these reports.

FxPro senior market analyst Alex Kuptsikevich said that the fact that XAU/USD remains firmly above the 2,400 USD/ounce mark is a good sign. Expectations that the Fed will soon cut interest rates are increasing, which underpins the price of gold - a non-yielding asset.