Gaining profit process take place in the market before the announcement about the US data. In which gold price ended the last week trading at a rise to reach the level of $1284 USD/ Ounce of gold.
The precious metal gained strength from the weakness of the US dollar, after the FOMC announcement last week, they said that they more positive data to end the assets purchase program. Any positive data considered as a green light for the Fed to end the assets purchase program.
Investors today are waiting for the US retail data to get inside the market, the issue which push some investors to sell gold as a short covering process especially after the low level of gold in the previous week.