Gold Tests $4,661 as Markets Await Key Data and Jackson Hole

Gold prices near $4,660 on Monday as market participants await key economic data and the Jackson Hole symposium. The precious metal is up 1.19% to trade at $4,657.10 an ounce.

The latest positioning in the market remains defined by the gap between softer recent U.S. inflation data and still-firm activity signals. Last week's flash composite PMI rose to 56.0 in August, its strongest reading in more than four years. However, earlier CPI, PPI, retail-sales, and sentiment readings left markets leaning toward a September Fed hold.

The 10-year Treasury yield is trading near the 4.7% area, keeping the rate backdrop restrictive for non-yielding metals. Market participants are looking ahead to key economic data releases, including July's PCE and durable goods on Wednesday, as well as weekly jobless claims on Thursday.