The weakness of the US dollar continues to provide a boost for commodity gold trading to firmly hold above the level of $ 1,800 support in the European session.
The yellow metal is preserving upward momentum for the fourth day in a row since falling to the top last week.
However, due to mixed sentiment embellishing the markets, gold trading is seen as the biggest to continue advancing higher and causing it to trade around the same price level.
At the start of the European session, spot gold was trading steady at $ 1,841 an aun, while gold front trading was also positive at $ 1,842 an aun (2.30 pm Malaysia time).
Pelabur was reminded that tonight there is one important data published, namely the United States inflation data which is expected to show an increase in January.
According to the analyst, the US inflation rate is the main risk tonight, and should any increase be noted it could cause a short-term surge for the US dollar and push gold lower.
Higher inflation data boosts this precious metal but also boosts the yield of the US treasury, which in turn suggests investors to buy gold.
In addition, investors are also looking forward to the words of the Chairman of the Federal Reserve, Jerome Powell, who is expected to repeat his previous facts regarding the central bank's commitment to perpetuate the monetary basis.
