The US dollar was recently stronger against all major currencies except for the Norwegian krone and the Australian dollar, which are both commodity exporters.

Core PCE for May is tracking at approximately 3.3% year-on-year.

Central banks globally are continuing to be net buyers of gold, with Russia and Turkey being recent outliers.

Russia's central bank sold gold for four consecutive months.

Iran may still pressure to have a service fee for ships passing through the Strait of Hormuz as part of a peace deal.

Kevin Warsh's primary goal as Federal Reserve chair would be to reinforce the central bank's credibility and demonstrate its independence from political bias.

The Bank of Japan is expected to hike interest rates this week.

The European Central Bank recently raised interest rates.

If the Core PCE inflation rate for May is around 3.3%, the Federal Reserve will be unable to cut interest rates in the near term.

Turkey was the largest seller of gold among central banks in March.