Gold prices edged slightly lower from their three-week high as the US dollar strengthened following updated government reopening developments. Traders noted that risk appetite improved marginally, limiting safe-haven inflows that previously supported bullion. Analysts said gold continues to trade within a tight range, influenced by interest-rate expectations and currency movement. ETF flows remained mixed as institutional investors await clearer signals from US macro data releases due later in the week, keeping short-term positioning subdued.

European equities held largely steady despite mixed sector performance, but Siemens weighed on the broader market after posting earnings that fell short of estimates. Traders noted cautious sentiment ahead of upcoming US inflation and unemployment data, which could influence global risk positioning. Siemens’ softer margins and slower-than-expected order intake pressured industrial indices, limiting gains in banking and energy stocks.