WASHINGTON (dpa-AFX) - Gold edged lower on Monday and the dollar hovered near a two-year high as traders await a raft of U.S. data this week for further clues on the Federal Reserve's rate trajectory.
Also in focus was China's yuan, which hit a 16-month low, defying the central bank's persistently stronger guidance and assurances that it will keep the currency stable.
Spot gold slipped 0.2 percent to $2,634.23 in European trade while U.S. gold futures were down 0.3 percent at $2,646.49.
Gold futures settled lower on Friday but still recorded a strong gain for the week after posting losses in the previous two weeks.
The U.S. Labour Department's closely watched monthly jobs report is likely to be in the spotlight this week, along with reports on service sector activity and consumer sentiment as well as the release of minutes of the latest Fed meeting.
Federal Reserve Governor Lisa Cook will speak at a conference on law and microeconomics at the University of Michigan after Tom Barkin, the Richmond Fed President, said on Friday he believes the interest rate level remains restrictive enough to lower inflation in 2025.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
