WASHINGTON (dpa-AFX) - Gold futures were little changed Monday as traders began to look ahead to the August jobs report due later in the week.
A third consecutive strong jobs report would cement expectations the Federal Reserve will raise interest rate in the next few months.
However, a Fed official downplayed Vice Chair Stanley Fischer's prediction that two rate hikes are possible by year's end.
'The calendar would allow that, we have three more meetings,' Federal Reserve Bank of Atlanta President Dennis Lockhart told the Wall Street Journal, although he added 'I wouldn't take [Fischer's] position today.'
December gold settled at $1,327.10/oz, up $1.20, or less than 0.1%.
In economic news, the Commerce Department said that income and spending rose in line with economist estimates in the month of July.
The report said personal income climbed by 0.4 percent in July after rising by 0.3 percent in June. The increase in income matched economist estimates.
The Commerce Department also said personal spending rose by 0.3 percent in July following a 0.5 percent increase in June. The spending growth also met expectations.
A closely watched reading on inflation showed that core consumer prices, which exclude food and energy prices, were up 1.6 percent year-over-year in July, unchanged from the previous month.
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