WASHINGTON (dpa-AFX) - Gold hovered near record levels on Monday as the dollar dipped against its peers, driven by weak economic data and growing concerns over U.S. economic strength.
Spot gold rose 0.3 percent to $2,945.72 per ounce in European trade while U.S. gold futures were up 0.3 percent at $2,960.61.
The U.S. dollar is facing pressure and bond yields struggled for direction after a slew of data released on Friday showed U.S. business activity decelerating, inflation expectations surging and consumer sentiment deteriorating.
The week ahead will be defined by market reaction to U.S. President Donald Trump's policy moves on tariffs and immigration and the release of the Federal Reserve's preferred readings on consumer price inflation.
U.S. reports on Q4 GDP, the housing market, consumer confidence and key readings on personal income and spending for January are due this week.
At least nine Fed officials are speaking this week, with most of them likely to reiterate the cautious message on further interest-rate cuts.
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