Gold Treads Water Ahead of Key Inflation Data
Gold prices were relatively stable on Monday as markets await key US inflation data due later this week for further clues on the Federal Reserve's interest rate path.
The jobs report for August showed a sharp acceleration in job growth, with unemployment holding steady at around 4.1%, keeping a rate increase this month firmly on the table.
This has weighed on gold prices, which slipped after the report but have since stabilized.
Around a 60% chance of a rate hike is being priced in by traders for the Fed's September meeting, according to CME's FedWatch tool.
US consumer and producer inflation reports due this week are likely to be the more decisive input for how that calculation shifts, as higher interest rates typically weigh on non-yielding bullion like gold.