Investors await CPI report from United States and FOMC minutes

Hence, the market focus will remain glued to the FOMC meeting minutes, due on Wednesday, which will be preceded by the release of the crucial US Consumer Price Index (CPI) report on Wednesday. This might influence market expectations about the Fed's next policy move, which, in turn, will drive the USD demand and provide some meaningful impetus to Gold price. Traders this week will further take cues from the release of the US monthly Retail Sales data on Friday to determine the near-term trajectory for the XAU/USD.