Slightly Higher On Light Volumes

Gold is unchanged in the Asia-Pac session, after closing 0.2% higher at $2017.21 on Monday.

• Bullion’s nudge higher extended the recovery above the $2,000/oz mark and further ate into the US CPI-inspired decline on February 13.
• With the US out for the Presidents Day holiday, volumes were relatively subdued despite a boost from China’s reopening following a week-long break.
• The market’s focus is now likely tuned to the release of the Federal Reserve minutes of its recent meeting midweek.
• A handful of Fed speakers are also scheduled to speak this week. Among them, Minneapolis Fed chief Neel Kashkari will address economic trends and the outlook on Thursday.