WASHINGTON (dpa-AFX) - Gold prices were little changed on Monday after rising over 3 percent in August, driven by a combination of factors including central bank buying, heightened geopolitical tensions and expectations of interest-rate cuts this year.
Spot gold dipped 0.2 percent to $2,499.03 per ounce, while U.S. gold futures were up 0.20 percent at #2,532.60.
The dollar eased slightly after hitting its highest level in nearly two weeks.
After a key inflation report matched expectations., investors await more U.S. economic data this week for additional clues on the Fed's rate path.
The monthly jobs report will be in focus this week, along with other reports on manufacturing, service sector activity and the Fed's Beige Book.
Money markets currently expect the Fed to cut rates by 25 basis points (bps) in September, with odds of a 50-bps cut diminishing further after last week's data.
According to CME Group's FedWatch Tool, there is a 69.5 percent chance of a quarter point rate cut next month and a 30.5 percent chance of a half point rate cut.
A soft jobs report this week could tip the odds in favor of a 50-basis point rate cut.
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