Gold posted a notable rise of more than 1% during Monday’s trading after maintaining its trading above $4300 per ounce. The yellow metal is also heading toward extending its gains for a fifth consecutive session.

Gold is currently trading above the weekly pivot point at $4274, looking to reach the first resistance level of $4378. It should be noted that if the price exceeds this level, it may resume its main upward trend, targeting the second resistance level of $4458.

On the downside, if the yellow metal takes a breather, then retreats below the weekly pivot point at $4274, it may come under negative pressure and retreat towards support levels of $4195 then $4090.

On the economic agenda, more clarity on the state of the U.S. economy may be coming this week, when a slew of delayed data by a record-long federal government shutdown are released.

On Tuesday, the November jobs report will be published, with economists anticipating that U.S. payrolls inched up by a muted 35,000, according to Reuters estimates. Nonfarm payrolls for October, which were not published because of the shutdown-driven data blackout, will be folded into the November report.

The U.S. inflation measure for November, the Consumer Price Index, in addition to the services and manufacturing PMI will be out this week. If these indicators rise above expectations, it could negatively affect gold prices, and vice versa.

Finally, a host of Fed members are due to speak this week, just days after a deeply divided central bank voted last week to slash interest rates by a quarter of a percentage point.

While the reduction was widely anticipated, the outlook for rates in the months ahead remains mired in relative uncertainty.