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FXstreet.com (Barcelona) - Gold futures are supported higher to begin the week, as strong fundamental data from China as well as no new rate hike creates an all-around positive market sentiment. Today the gold contract for February delivery has reached as high as $1400.20 a troy ounce, before settling just under at time of writing.

While risk appetite is markedly improved today due to the news coming out of China, debt concerns over the euro-zone still linger in the minds of investors helping to keep gold as a highly demanded safe-haven alternative. A weaker US dollar is also weighing less heavily on dollar-denominated commodities like the gold bullion, making it more competitive on international markets.

With little further macroeconomic information ahead, commodity prices should continue to track sentiment on Wall Street while looking out for any new developments regarding debt troubles in Europe. Tomorrow, a slew of key reports from the euro-zone as well as the US will be in focus while the market prepares for the Fed's interest rate decision.

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