Gold continues to rise while waiting for this week's events

A number of important economic data and central bank meetings from all over the world are expected this week. Because of this, gold continues its rise on Monday.

A decline in inflation caused an increase in the probability of a slowdown in the Fed's interest rate hikes. This, in turn, contributed to a sharp rise in the metal in recent weeks.

Demand for gold, used as a safe haven asset, has resumed due to fears of a recession in major economies. Sharp increases in interest rates through 2022 resulted in tangible consequences.

In a flow of data from the major economies — the U.S., Japan, China, England and the Eurozone — any new signs of slowing growth are in focus this week. The focus is also on China and Japan and their interest rate decisions. Special attention is on the Bank of Japan, as it unexpectedly took a hawkish tone at its December meeting.