Daily Market Report
➢ Gold (XAU/USD) holds firm above the $5,000 psychological level, extending gains for a second straight session during Monday’s Asian trade.
➢ China’s central bank (PBOC) confirmed it added gold reserves for the 15th consecutive month in January, reinforcing strong underlying demand.
➢ China’s gold holdings rose by 40,000 troy ounces to 74.19 million, with total reserves valued at $369.58 billion.
➢ Dovish Federal Reserve expectations continue to support gold, as markets price in multiple US rate cuts in 2026.
➢ Recent US labor market weakness has strengthened the case for further monetary easing, weighing on the US Dollar.
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