Gold traded stable after starting positive trading this week since last week's drastic decline as greenback dollar trading continued to decline lower.
Prior to the start of the European session, the precious metal traded up around the price level of $ 1,839 per ounce, while gold futures were positive at $ 1,840 per ounce (2.20pm Malaysian time).
Gold has begun its recovery since last weekend, after US jobs data showed a weaker-than-expected reading in January leading to the depreciation of the US dollar.
Rising prices continue to be driven by progress in the effort to approve the stimulus package and Treasury Secretary Janet Yellen's statement that the US could achieve full employment if President Joe Biden's stimulus plan is approved.
Meanwhile, the release of US inflation data on Wednesday, which is expected to show an increase in January, has been the main focus for the market this week.
The expected increase indirectly supports the appeal of the yellow-gold metal as a hedge of inflation as US President Joe Biden's administration is still working to approve the Covid-19 stimulus package.
