WASHINGTON (dpa-AFX) - Gold prices traded mixed on Monday, while the dollar gained ground as a stronger-than-expected U.S. jobs report pushed Treasury yields higher and raised doubts about whether the Fed will be able to cut interest rates this year.
Spot gold edged up 0.1 percent to $2,296.90 per ounce, while U.S. gold futures were down half a percent at $2,313.80.
Traders heavily pared back on bets for Federal Reserve rate cuts this year after data showed U.S. non-farm payroll employment surged by 272,000 jobs in May, well above the 185,000 expected by some analysts, and up from 165,000 in April.
Average hourly earnings were higher than expected as well, while the jobless rate rose to 4 percent, the first time it has breached that level since January 2022.
Looking ahead, the Federal Reserve is due to announce its latest monetary policy decision on Wednesday.
While no change in interest rates is expected, the accompanying policy statement may reveal more about the timing and pace of interest-rate cuts later this year.
Upcoming U.S. reports on consumer price inflation, producer prices, import and export prices, consumer sentiment and inflation expectations may also garner investor attention as the week progresses.
Meanwhile, the euro hit a one-month low against the dollar in the wake of political upheaval in France following President Emmanuel Macron's demand for an early legislative election.
Macron called a shock election after being trounced in the European Union vote by the far-right parties.
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