technical

Gold is nursing losses below $4,500 early Tuesday after correcting over 1% from two-week highs of $4,595 set on Monday.

Statistics Canada (StatCan) handed the headline writers a gift and the analysts a headache.

The Aussie Dollar seems to have embarked on a consolidative phase, with gains in AUD/USD so far limited by the key 0.7200 region. In this scenario, the pair continues to look for a stronger catalyst to attempt another move to the area of yearly peaks.

Gold is holding the previous pullback from two-week highs of $4,595 early Monday, as buyers struggle to find a fresh impetus amid looming uncertainty surrounding the ceasefire extension deal between the United States (US) and Iran.

Another apathetic week saw the US Dollar (USD) retreat modestly, although not by much.

The EUR/USD pair finished the last week of May at around 1.1660, barely up compared to the previous week’s close.