Gold corrected after a galloping rise last weekend.

Overall, gold continued to show strength last week, especially with a surge to $2,330 at the end of the week despite the stronger-than-expected NFP report. Lingering geopolitical tensions in the Middle East and Ukraine continue to be a driving factor for precious metals. However, later this morning, gold plummeted to $2,303 before recovering and is currently trading at $2,324.

This week, the market will receive a series of important economic data, including the US CPI and PPI reports, along with the FOMC meeting minutes.
The USD rebounded after the NFP data last weekend, but then turned down again. USD is strongest, CAD is weakest among major currencies. Next week will include a series of interest rate decisions from major central banks,