Gold prices have recovered near $4,100, ending a two-day losing streak last weekend as the US dollar edged higher.
Heading into the week, market players will be taking more cues from Fed officials John Williams, Philip Jefferson, Neel Kashkari and Christopher Waller.
At 9:30 AM, gold was at $4,096, up 0.31% since it opened early Monday in Asian trading.
Market sentiment improved after the US government reopened, weighing on gold's safe-haven status. US President Donald Trump signed a funding bill last week, ending the longest-running shutdown in history at 43 days.
However, investors are still grappling with uncertainty over long-delayed economic data. Analysts believe the US economic data will show weakness in the jobs market and a potential slowdown.
The expectation could weigh on the US dollar and sustain bullish momentum for gold.
Moreover, gold's support remains limited following hawkish statements from Fed officials that dampened expectations of a December interest rate cut.
Kansas City Fed President Jeffery Schmid said on Friday that monetary policy should depend on economic growth and signaled a neutral stance.
Financial markets are now pricing in a nearly 54% chance that the Fed will cut its benchmark overnight lending rate by 25 basis points at its December meeting.
