China Producer Price Index (YoY) came in at 2.8%, above expectations (1.5%) in April | FXStreet

Gold (XAU/USD) trades on the back foot on Monday and fluctuates below $4,700, pressured by renewed USD strength.Persistent geopolitical uncertainties turn out to be a key factor underpinning the USD’s safe-haven status, in addition to growing expectations for a more hawkish USFederal Reserve policy stance.