WASHINGTON (dpa-AFX) - Gold prices were flat Monday, barely holding the $1300/oz mark after some upbeat economic data strengthened the U.S. dollar.
Dec. gold was down $3 at $1301/oz, trimming last week's strong gains.
Manufacturing firms in New York reported that business activity continued to expand strongly in the month of October.
The New York Fed said its general business conditions index climbed to 30.2 in October from 24.4 in September, with a positive reading indicating growth in regional manufacturing activity.
The increase came as a surprise to economists, who had expected the New York manufacturing index to drop to 20.7.
The news boosts the likelihood that the Federal Reserve will raise interest rates in December.
Over the weekend, Fed Chair Janet Yellen said the economy remains in good shape and that sluggish inflation should pick up in the coming months.
Copyright RTT News/dpa-AFX