WASHINGTON (dpa-AFX) - Gold drifted lower on Monday as a firmer dollar and higher U.S. Treasury yields dented its safe-haven appeal.
Spot gold dropped half a percent to $2,320.77 per ounce while U.S. gold futures were down 0.6 percent at $2,335.35.
The dollar stayed strong against the backdrop of uncertainty in European politics.
Treasury yields ticked higher as investors looked ahead to a busy week of economic data, central bank meetings and Fed speeches for additional clues on the timing and pace of interest-rate cuts.
At least 10 policymakers from the Federal Reserve are due to speak this week after the U.S. central bank projected just one rate cut this year.
Traders are hopeful the predictions will turn out to be overly conservative if inflation continues to slow in the coming months.
In economic releases, U.S. reports on retail sales, industrial production, housing starts and existing home sales are awaited this week.
Central bank meetings in Australia, Norway and the U.K. will also be in focus this week, with all central banks expected to hold rates steady.
The Swiss National Bank (SNB) might announce another rate cut, given the recent strength of the Swiss franc.
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