WASHINGTON (dpa-AFX) - Gold dipped on Monday and was set for its worst month since September amid lingering worries over policy tightening.
Spot gold slipped 0.1 percent to $1 790.34 per ounce, taking its monthly drop to around 2 percent. U.S. gold futures, however, were up 0.2 percent at $1,788.80.
Investors fretted over Fed rate-hike prospects as a continued surge in oil prices amid the Ukraine crisis added to inflation jitters.
The Federal Reserve could raise interest rates by 50 basis points if inflation remains high, Raphael Bostic, president of the Fed's Atlanta branch, told the Financial Times in an interview.
Investors await the U.S. Labor Department's monthly jobs report for January along with other reports on manufacturing and service sector activity this week for more clues on the outlook for monetary policy.
The dollar was firm against rivals ahead of key events including rate decisions from major central banks due throughout this week.
The Reserve Bank of Australia will hold its first meeting of the year on Tuesday. The central bank is expected to end its bond buying program amid high inflation.
The Bank of England and the European Central Bank will deliver their policy announcements on Thursday.
While the BoE is widely expected to deliver another increase in the key interest rate, the ECB is seen maintaining its monetary policy and is unlikely to give any signals on possible rate hikes.
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