Macroeconomic News:
Gold prices rose during the Asian trading session on Monday, supported by a weaker USD and escalating geopolitical risks in the Middle East. Speeches from Fed officials such as Bowman, Mester, and Kashkari on Tuesday will be closely monitored. While increased gold purchasing by central banks may support gold prices in the long term, the lower likelihood of Fed rate cuts this year and the hawkish stance from Fed officials could exert selling pressure on gold, as rising interest rates reduce gold's appeal as a store of value.

Technical Analysis:
Gold prices edged higher today, maintaining above the 100-day EMA support level on the daily chart, sustaining a positive trend. However, the 14-day RSI at 48.5, in the bearish territory, indicates a potential for further correction or decline. The first resistance level is at the upper Bollinger Band at $2,428, and if breached, it could reach the all-time high of $2,450 and the psychological mark of $2,500. The initial support level is at $2,300, and if broken, it could fall to the lower Bollinger Band at $2,267, followed by the 100-day EMA at $2,220.