Gold prices traded flat on Monday, sticking around its latest heights amid precautions taken by the investors before the release of key economic figures.

Gold lately staged a big rally during the past weeks as projections hover around an eased interest rate hikes from Fed side during the upcoming months, unburdening the non-yielding assets from some load.

The belief that Fed may take a slower approach in rates hikes has been reinforced by the released inflation figures for December that demonstrated some decline which consequently affected the greenback and the treasury yields.

Concerns over a slowdown in the global economy in 2023, pushed the investors towards gold weighed by the impact of the consecutive aggressive rate hikes that took place last year.

A slump in the spot gold by 0.1% at $1,918.49 per ounce, while gold futures muted at $1,921.50 per ounce. The two main gauges were near their peak in 8 months.