WASHINGTON (dpa-AFX) - Gold prices traded lower on Monday as a result of profit taking activities.
Spot gold dipped 0.8 percent to $2,424.34 per ounce, while WTI crude futures were down 0.2 percent at $2,465.50.
After weak U.S. jobs data fanned fears of a recession in the world's top economy, investors now await more economic data and comments from Federal Reserve officials for additional clues on the timing and pace of interest-rate cuts.
The week ahead is relatively quiet week in terms of U.S. economic data. The July ISM Services PMI is due later in the day while San Francisco Fed President Mary Daly will be speaking at the Hawaii Executive Collaborative after the closing bell.
Geopolitical tensions also remained on investors' radar after Iran vowed 'revenge' over killing of Hamas chief and Israeli leaders warned they will extract a 'heavy price' if attacked.
U.S. President Joe Biden is set to discuss tensions in the Middle East with his national security team today, and to meet with Jordan's King Abdullah II.
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