Gold Price (XAU/USD) pares the daily gains as it retreats from the highest levels in five weeks, marked earlier in the day, to $1,885 by the press time of early Asian session on Monday. In doing so, the precious metal struggles to extend the previous two-week uptrend as the United States Treasury Department and Federal Reserve (Fed) take actions on defend the financial market crisis risk emanating from Silicon Valley Bank. That said, the XAU/USD ignored better than forecast US Nonfarm Payrolls (NFP) to renew the one-month high, before rallying to a five-week top earlier in the day, as the US Dollar traced downbeat Treasury bond yields.
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