WASHINGTON (dpa-AFX) - Gold prices were little changed on Monday as investors awaited more U.S. economic data this week for additional clues on the Fed's rate trajectory.
Spot gold was marginally lower at $2,326.73 per ounce while U.S. gold futures were little changed with a positive bias at $2,346.70.
The dollar was subdued, and Treasury yields eased after the Fed's preferred measure of inflation met estimates and posted the smallest increase this year at 2.7 percent in April, raising hopes for an interest rate cut by the end of the year.
Wage growth moderated, growth in spending by consumers weakened by more than economists expected and growth in incomes for Americans also slowed last month, easing investor woes surrounding inflation and interest rates.
The U.S. monthly jobs report is likely to be in the spotlight this week, along with reports on manufacturing and service sector activity.
The jobs data holds significance as it will be the last economic report before the Federal Reserve's upcoming monetary policy meet on June 11-12.
It's a busy week ahead on the European economic calendar, with the European Central Bank expected to begin cutting interest rates from historic highs on Thursday.
Economists expect a quarter percentage point reduction, taking the key deposit rate to 3.75 percent from its current record level.
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