Gold saw a modest sell-off after reaching an all-time high.
Last week, yellow metal was one of the top performers following the Fed's dovish rate pause. The central bank's dot map predicts three rate cuts of 25 basis points each this year.
The Swiss National Bank reduced interest rates by 25 basis points, which benefited gold prices.
The BOE maintains interest rates at 5.25% and suggests more reduction as inflation falls substantially, which is favorable for gold.
The CME Fed monitoring tool now shows a 67.2% chance of a 25 basis point rate drop in June, up from 55.2% the previous week.
Technical:
Near-term support is at $2157, with a break below objectives of $2150/2140. The bright metal has little resistance around $2180.
Signal
Sell $2175 with a stop loss of about $2180 and a target price of $2150.
Buy at $2150 with a stop loss of about $2140 and a target price of $2170.