$XAU gold prices pulled back modestly on Tuesday, sliding about 0.5% to around $5,053 per ounce, with spot gold near $5,040 after a recent rally. Bullion had previously reached a record high of $5,594.82 on January 29 before this correction.
Traders are staying cautious ahead of key U.S. economic data this week, including retail sales, CPI, and the non-farm payrolls report. These releases could reshape expectations for the Federal Reserve’s rate path.
Stronger data may reduce rate-cut bets, while softer numbers could support gold as a non-yielding asset.