Gold price (XAU/USD) extends its consolidative price move heading into the European session on Monday and remains below the record peak touched on Friday. Bulls now seem reluctant to place fresh bets around the precious metal amid extremely overbought conditions on the daily chart and ahead of the release of the latest US consumer inflation figures on Tuesday. The crucial CPI report will play a key role in influencing expectations about the Federal Reserve's (Fed) rate-cut path, which will drive the US Dollar (USD) demand and provide a fresh directional impetus to the non-yielding yellow metal.
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