Commodities
Gold Falters After Peaking at Seven-Week High Ahead of US Inflation Data
Gold prices inched higher on Monday as investors awaited key US inflation data that could influence expectations for the Federal Reserve's policy moves.
The precious metal hit its highest level since June 17, but drifted lower by a fraction of a percent to $4,351.90 an ounce. This came after weak US nonfarm payrolls data on Friday caused prices to surge.
US gold futures added 0.4% to $4,416.00 on Monday, while spot gold rose 0.2%. The inflation data due out this week is expected to have a significant impact on the Fed's decisions regarding interest rates and monetary policy.