Dollar turned, gold rally stopped

After three losing trading days, the Bloomberg Dollar Index rose for the first time at the beginning of the week, paving the way for a pause in the rally under this strength. Gram gold, which broke records for 4 trading days, also ended its record streak. Gold traded at levels close to an 8-month high as investors priced in US data that could provide more clues about the Fed's monetary policy path. Gold, which saw $1,929 per ounce on the first trading day of the week, displayed a negative performance on the new trading day and tested below $1,909. Gram gold, which broke records in the last 4 trading days, also paused its record streak. The precious metal had rallied in the last two months amid speculation that the Fed would begin to slow down interest rate hikes. Retail sales and producer price index data to be announced in the US on Wednesday will provide an idea of whether inflation has started to be curbed, and will be closely monitored by gold investors. All eyes will be on how Fed officials respond to the latest economic data after two regional bank presidents at the Fed advocated for more moderate rate hikes going forward. FOMC voting members John Williams, Lael Brainard and Christopher Waller are expected to make statements this week.