WASHINGTON (dpa-AFX) - Gold prices held steady on Monday as the dollar declined against major rivals ahead of key U.S. data due this week, which will provide clues for the health of the economy in the third quarter.
Spot gold edged up 0.2 percent to $1,664.42 per ounce while U.S. gold futures were marginally lower at $1,671.45.
The dollar index fell for a fourth consecutive day after the British government reversed plans to cut the highest rate of income tax that helped to spark a rebellion in her party and turmoil in financial markets.
The U.K. government has decided to abandon its plan to scrap the 45 percent tax rate, which was announced just 10 days before, after coming under severe criticism for such a relaxation for the high earners at the time of rising living costs.
Benchmark 10-year U.S. Treasury bond yields were at 3.797 percent. In remarks prepared for a speech in New York on Friday, Fed Vice Chair Lael Brainard warned that the risk of additional inflationary shocks cannot be ruled out and that monetary policy will need to be restrictive for some time.
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