Gold prices steadied on Monday as investors awaited U.S. inflation data due on Wednesday to price in the size of a potential interest rate cut by the Federal Reserve in September.
Spot gold prices were little changed at $2,425.94 an ounce, while US gold futures fell 0.3% to $2,464.80.
Inflation data
The US Producer Price Index is due out on Tuesday, followed by the Consumer Price Index on Wednesday.
The market currently expects a 54% chance of a 50 basis point rate cut in September, according to the CME Group's Fed Rate Monitor tool.
Fed Governor Michelle Bowman softened her usual hawkish tone, noting some welcome progress on inflation in the past two months even as she said inflation remained unsettlingly above the central bank's 2% target and subject to upside risks.
Other precious metals
Among other precious metals, spot silver fell 0.6% to $27.29 an ounce, platinum rose 0.1% to $923.20, and palladium was almost unchanged at $905.
