Gold prices continued to whipsaw, amidst uncertainty regarding the Fed's monetary policy trajectory as well as rising tensions in the Middle East that spurred safe haven demand.
Dovish comments by European Central Bank's Isabel Schnabel that hinted at a supportive monetary policy outlook buoyed sentiment. However, anxiety ahead of the monthly non-farm payrolls data from the U.S. due on Friday lingered. Markets expect the reading to show a stronger labor market. Unease ahead of China's trade data due on Wednesday and inflation readings due on Friday also contributed to the volatility.
Meanwhile, safe have demand triggered by geopolitical tensions in the Middle East supported safe haven buying.
Gold Futures for December settlement rallied 0.19 percent to trade at $2,046.15. The day's trading range has been between $2,039.65 and $2,059.55. The 52-week trading range was between $1,779.10 and $2,151.20.
Spot Gold slipped 0.11 percent to trade at $2,026.82 per troy ounce. The day's trading range has been between $2,021.64 and $2,041.28. The 52-week trading range was between $1,765.72 and $2,148.78.
