• Gold price trades on a softer note near $2,430 in Monday’s early Asian session. 
• Safe-haven flows amid elevated geopolitical risks might support the yellow metal. 
• Traders await key US economic data this week for fresh catalysts, including PPI, CPI and Retail Sales.

Gold price (XAU/USD) trades on a negative note around $2,430 during the early Asian session on Monday. The modest recovery of the US Dollar (USD) drags the yellow metal lower on the day. However, the downside might be limited amid the heightened geopolitical tensions in the Middle East.  
Tensions in the Middle East would maintain the XAU/USD bid, with reports showing an intensification of the war. On Sunday, Defence Minister Yoav Gallant informed US Defence Secretary Lloyd Austin that Iran's military preparations indicated the country is preparing for a large-scale strike on Israel, according to Axios writer Barak Ravid on X, citing a person familiar with the call. 
Investors are split on whether the US Federal Reserve (Fed) would be aggressive in its monetary policy by announcing a 50 basis point (bps) interest rate cut or a 25 bps cut. The key US economic data this week might offer some hints about economic conditions, with the release of the US Producer Price Index (PPI), Consumer Price Index (CPI) and Retail Sales. The stronger-than-expected data might delay or diminish the odds of deeper Fed rate cuts, which weigh on the Gold price.